Question

Helena’s House of Toys banks online with Example Bank. It is March 2, 2015, and you have been asked to reconcile the bank statement as at February 28. You gather the following information:
FEBRUARY BANK STATEMENT (note that the later dates are at the top because it is a copy of the online statement):
CASH ACCOUNT TRANSACTIONS FOR FEBRUARY:
GL ACCOUNT: 1060 Cash Account
For the period of February 01-15 to February 28-15
BANK RECONCILIATION FOR PRECEDING MONTH (DATED JANUARY 31):
Instructions
1. Prepare a bank reconciliation as at February 28, 2015. Assume that any errors in recording deposits or cheques were made by the company. Bank deposits are made Wednesday evenings.
2. Journalize any necessary entries.
3. What should be the balance of the Cash Account as at February 28, 2015?


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  • CreatedSeptember 15, 2015
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