Question

You recently started work in the accounting department at MM Industries. Your first task is to reconcile the bank statement as at June 30, 2015. You have been provided with the required information to reconcile the bank statement, and you notice that the date of the previous bank reconciliation is April 30.
JUNE BANK STATEMENT:
MAY BANK STATEMENT:
CASH ACCOUNT TRANSACTIONS FOR MAY AND JUNE:
GL Account: CASH IN BANK 1040
For the period of MAY-01-15 to JUN-30-15
PRECEDING BANK RECONCILIATION (DATED APRIL 30):
Instructions
1. Prepare a bank reconciliation as at June 30, 2015. Assume that any errors in recording deposits were made by the company and any errors in recording cheques were made by the bank.
2. Journalize any necessary entries.
3. What should be the balance of the Cash Account as at June 30, 2015?


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  • CreatedSeptember 15, 2015
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