Del Gato Clinic's cash account shows an $14,180 debit balance and its bank statement shows $13,236...

 

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Del Gato Clinic's cash account shows an $14,180 debit balance and its bank statement shows $13,236 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,502. b. The June 30 bank statement lists a $60 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598. d. The June 30 cash receipts of $2,395 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-12 (Algo) Bank reconciliation LO P3 Prepare its bank reconciliation using the above information. Del Gato Clinic's cash account shows an $14,180 debit balance and its bank statement shows $13,236 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $1,502. b. The June 30 bank statement lists a $60 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $589 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $598. d. The June 30 cash receipts of $2,395 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Exercise 6-12 (Algo) Bank reconciliation LO P3 Prepare its bank reconciliation using the above information.

Answer rating: 100% (QA)

Answer To prepare Del Gato Clinics bank reconciliation we need to compare the cash account balance i... View the full answer