Bank Reconciliation

The records of Green & White Corporation show the following bank statement information for October:

a. Balance per Bank Statement, October 31, 2012, $62,000.

b. The bank account balance in the general ledger (Books) on October 31, 2012, $57,035.

c. Service charge indicated on the bank statement as a debit memorandum ** for October, $25.

d. Note receivable matured and cash directly deposited by Green & White customer into the Green & White account. The total of $6,400 included $400.

e. October check returned from a customer marked by the bank as NSF (check was for accounts receivable collection) amounted to $2,500.

f. Checks received from customers as payments on their accounts receivable were erroneously recorded in the books of Green & White as $9,960, on October 10. The bank correctly showed the deposit of these checks as $9,690. Transposition error – total $270 –

g. Outstanding checks totaled $12,000.

h. Deposits in transit totaled $7,700.

i Green & White Corporation rents space to the bank. The bank directly deposits the amount each month. The bank issued a credit memorandum ** indicating that they had put this month’s rent, of $5,000 into Green & White’s account.

j. Interest earned on the account, as reflected on the bank statement, was $60.

Prepare bank reconciliation and the required entries to correct the book balance as of 10/31/12.

What balance will be on the books at the end of 10/31 when this worksheet is completed? ______________

What balance will be on the books at the end of 10/31 after these entries are posted and the balances determined? ________________________