Summary of Dave's Donghnuts Bank(cash) general ledger account for December. Bank (cash) Opening balance 45,000.00 Total deposits

Summary of Dave's Donghnuts Bank(cash) general ledger account for December.

 

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Bank (cash) Opening balance 45,000.00 Total deposits 42,000.00 Total withdrawals 41,000.00 You've also been given the following information: Cheque number #45 for office expenses was correctly written for $900, however the transaction was posted as $600 30 0 An EFT deposit was made from Violet LLP for $20,500 to pay off her sales balance A deposit recorded December 31 for $30,000 is shown in the January bank statement Cheques totaling $25,000 are still outstanding at December 31 A NSF cheque for $15,380 from a customer was returned with the statement. Bank fees totaled $70 A November 30th "deposit in transit" of $66,550 was confirmed to be deposited on the December Bank statement, December 2nd, December 31 Bank statement showed a balance of $45,750 Required: (a) Prepare a bank reconciliation for Dave's Doughnuts for the month of December (b) Prepare any journal entries necessary as a result of the bank reconciliation. Bank (cash) Opening balance 45,000.00 Total deposits 42,000.00 Total withdrawals 41,000.00 You've also been given the following information: Cheque number #45 for office expenses was correctly written for $900, however the transaction was posted as $600 30 0 An EFT deposit was made from Violet LLP for $20,500 to pay off her sales balance A deposit recorded December 31 for $30,000 is shown in the January bank statement Cheques totaling $25,000 are still outstanding at December 31 A NSF cheque for $15,380 from a customer was returned with the statement. Bank fees totaled $70 A November 30th "deposit in transit" of $66,550 was confirmed to be deposited on the December Bank statement, December 2nd, December 31 Bank statement showed a balance of $45,750 Required: (a) Prepare a bank reconciliation for Dave's Doughnuts for the month of December (b) Prepare any journal entries necessary as a result of the bank reconciliation.

Answer rating: 100% (QA)

To prepare a bank reconciliation for Daves Doughnuts for the month of December we need to compare th... View the full answer