Question

The October bank statement of Brandon’s Hamburgers just arrived from Safety Bank.


To prepare the bank reconciliation, you gather the following additional data:
a. The following checks are outstanding on October 31:
800 ....................................................................................................................... $384
802 .......................................................................................................................... 77
806 ......................................................................................................................... 30
809 ....................................................................................................................... 161
810 ....................................................................................................................... 224
811 ........................................................................................................................ 42

b. On October 31, Brandon’s Hamburgers’ treasurer deposited $300, but this deposit does not appear on the bank statement.
c. The bank statement includes a $733 deduction for a check #1668 written by Amy’s Apples rather than Brandon’s Hamburgers. Brandon’s Hamburgers notified the bank of this bank error.
d. Brandon’s Cash account shows a balance of $12,100 on October 31.
e. The EFT for $700 was a collection of rent revenue and the EFT deposit for $200 was a collection on account.

Requirements
1. Prepare the bank reconciliation for October 31.
2. Record the journal entries called for by the reconciliation. Include an explanation for eachentry.


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  • CreatedApril 29, 2014
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