On March 2, 2016, the accountant for Bergen Carpet Co. of Edmonton was injured in a skiing
Question:
On March 2, 2016, the accountant for Bergen Carpet Co. of Edmonton was injured in a skiing accident and was advised not to return to work for six weeks. The owners of the company are anxious to ensure that the company's bank statement is reconciled and have asked you to perform this task. You are presented with the following information:
a. Bank reconciliation prepared by the regular accountant at January 31, 2016:
Bergen Carpet Co.
Bank Reconciliation
January 31, 2016
b. General ledger listing of Bank Account (#110) for the month of February (see page 392).
c. Bank statement from the Royal Bank for the period ending February 26, 2016 (see page 393).
Required
Prepare the necessary reconciliation and any journal entries needed at February 28, 2016.
BERGEN CARPET CO.
General Ledger Listing as of 28 Feb 2016
$ 8,364.02 Balance per Bank Statement Add: Deposit in Transit 2,576.03 10,940.05 Less: Outstanding Cheques $ 28.30 No. 417 419 1,043.25 1,722.30 423 2,793.85 Balance per General Ledger $ 8,146.20 [ 110] GL listing for account for department for fiscal period sorted by to ( 110] ] to [222 ], [ 2], [2] 0 [ Account Last posting sequence number: 4 Acct. Dept.
Step by Step Answer:
Balance per Bank Statement Add Outstanding Deposit Less Outstanding Cheques ...View the full answer
College Accounting A Practical Approach
ISBN: 978-0133133233
12th Canadian edition
Authors: Jeffrey Slater, Brian Zwicker
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