Answers
Bank Reconciliation | |||||||||
At December 31 | |||||||||
Bank Statement | Company's books | ||||||||
Ending balance per Bank Statement | 89,330 | ending balance as per Cash account | 97,630 | ||||||
Addittions: | Addittions | ||||||||
Deposit in transit | 14,000 | interest earned | 100 | ||||||
14,000 | 100 | ||||||||
103,330 | 97,730 | ||||||||
Deductions: | Deductions: | ||||||||
Checks outstanding | (250+6000) | 6,250 | NSF | 400 | |||||
service charge | 250 | ||||||||
6,250 | 650 | ||||||||
Up-to-date Cash balance | 97,080 | 97,080 | |||||||
No | Tr | General Journal | Debit | Credit | |||||
A | 1) | cash | 100 | ||||||
interest revenue | 100 | ||||||||
B) | 2) | Service expense | 250 | ||||||
cash | 250 | ||||||||
C) | 3) | Accounts receivable | 400 | ||||||
cash | 400 | ||||||||
D) | 4) | No entry | |||||||
E) | 5) | No Entry | |||||||
Balance in cash account | 97,080 | ||||||||
total amount of cash & cash equivalents | 97,480 | ||||||||
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