Question

Various information for Helix Company in relation to the cash account:


The March bank reconciliation: Balance per bank $ 19,730 Plus: Outstanding deposits 500 Less: Outstanding cheques ($ 450, $ 1,670, $ 1,355, $ 335) ( 3,810) Cash, per general ledger $ 16,420 April information, per bank: Opening bank balance $ 19,730 Deposits: $ 500, $ 2,100, $ 13,550, $ 10,000 ( loan from bank), $ 5,500 ( direct deposit from customer for cash sale) $ 650, $ 23,800 56,100 Cheques: ($ 1,180, $ 12,600, $ 265 ( service charges), $ 1,355, $ 4,900 ( direct payment to supplier on account), $ 1,200 ( interest), $ 450 ( March cheque), $ 1,560 ( direct payment for insurance), $ 4,450 ( recorded in error as $ 4,045 in books; to supplier on account) ( 27,960) Closing bank balance $ 47,870

Required:
1. Prepare a bank reconciliation in good form at the end of April.
2. Prepare any adjusting journal entries required as a result of the reconciliation that should be made at 31 December, based on your bankreconciliation.


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  • CreatedFebruary 17, 2015
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