Bentley Companys June 30 bank statement and June ledger account for cash are summarized below: Required: 1.

Question:

Bentley Company’s June 30 bank statement and June ledger account for cash are summarized below:

Required:

1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,400. A deposit of $1,900 is in transit at the end of June.

2. Give any journal entries that should be made as a result of the bank reconciliation.

3. What is the balance in the Cash account after the reconciliation entries?

4. What is the total amount of cash that should be reported on the balance sheet at June 30?

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Financial Accounting

ISBN: 9781264229734

11th Edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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Question Posted: Sep 21, 2022 01:39 AM

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Bentley Companys June 30 bank statement and June ledger account for cash are summarized below: Required: 1.

Question:

BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 June 1 Balance June Deposits $16,600 40 Deposits $16,200 Cash (A) 6,500 June Checks written 18,100 Balance $ 6,500 22,700 6,100 6,060 6,060 19,000

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Req 1 Req 2 Bank service charge expense E SE 40 Cash A 40 To re...View the full answer

Financial Accounting

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