Given the information provided below, prepare a bank reconciliation in proper format for the month of...

 

 

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Given the information provided below, prepare a bank reconciliation in proper format for the month of September for Toby Company. 1. Balance per bank on September 30-$24,070 2. Balance per books on September 30-$19.500 3. Total outstanding checks at September 30-$3,600 4. Debit memoranda: o NSF check from Lee Co.-$540 o Printing company checks-$60 o Payment to bank of $2.400 note owed bank by Toby plus $200 interest. 5. Credit memorandum: Collection of note receivable for $7,500 plus $560 interest less $60 collection fee. 6. Errors: o A check written this month to Prance Co. for office supplies cleared the bank at the correct amount of $680, but was recorded by Toby at $860. o The bank charged a $210 check of Tome Company against Toby's account this month. 7. Deposit in transit on September 30-$3,800. Instructions: Prepare a bank reconciliation at September 30. Enter numbers without any format (e.g., 62500; 1800). Cash balance per bank statement Add: Deposits in transit Add: Bank Error Less: Outstanding checks Prepare a bank reconciliation at September 30. Enter numbers without any format (e.g, 62500; 1800). Cash balance per bank statement Add: Deposits in transit Add: Bank Error Less: Outstanding checks Adjusted cash balance per bank iCash balance per books Add: Collection on note receivable Add: Error in recording checks Less: NSF check Less Bank service charge Less: Payment on note Asted cash balance per books Given the information provided below, prepare a bank reconciliation in proper format for the month of September for Toby Company. 1. Balance per bank on September 30-$24,070 2. Balance per books on September 30-$19.500 3. Total outstanding checks at September 30-$3,600 4. Debit memoranda: o NSF check from Lee Co.-$540 o Printing company checks-$60 o Payment to bank of $2.400 note owed bank by Toby plus $200 interest. 5. Credit memorandum: Collection of note receivable for $7,500 plus $560 interest less $60 collection fee. 6. Errors: o A check written this month to Prance Co. for office supplies cleared the bank at the correct amount of $680, but was recorded by Toby at $860. o The bank charged a $210 check of Tome Company against Toby's account this month. 7. Deposit in transit on September 30-$3,800. Instructions: Prepare a bank reconciliation at September 30. Enter numbers without any format (e.g., 62500; 1800). Cash balance per bank statement Add: Deposits in transit Add: Bank Error Less: Outstanding checks Prepare a bank reconciliation at September 30. Enter numbers without any format (e.g, 62500; 1800). Cash balance per bank statement Add: Deposits in transit Add: Bank Error Less: Outstanding checks Adjusted cash balance per bank iCash balance per books Add: Collection on note receivable Add: Error in recording checks Less: NSF check Less Bank service charge Less: Payment on note Asted cash balance per books

Answer rating: 100% (QA)

Preparation of bank reconciliation Cash balance per bank statement 24070 D... View the full answer