Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: Balance,...
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Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 June 1 Balance June Deposits Debit View transaction list < 7,350 18,950 1 BANK STATEMENT Journal entry worksheet 2 Cash (A) Date June 30 Required: 1. Complete the following bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,650. A deposit of $3,300 is in transit at the end of June. 2. Prepare the journal entry 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? 3 Checks Complete this question by entering your answers in the tabs below. Note: Enter debits before credits. $ 16,900 21 Required 1 Required 2 Required 3 Record any journal entries that should be made as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Credit June Checks written Deposits Record the entry for deposits during June. $ 15,650 Required 4 Balance $ 7,350 23,000 6,100 6,079 6,079 General Journal 19,550 Debit Credit > V Prey 5 of 5 TT 1 Score answer Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 June 1 Balance June Deposits Debit View transaction list < 7,350 18,950 1 BANK STATEMENT Journal entry worksheet 2 Cash (A) Date June 30 Required: 1. Complete the following bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,650. A deposit of $3,300 is in transit at the end of June. 2. Prepare the journal entry 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? 3 Checks Complete this question by entering your answers in the tabs below. Note: Enter debits before credits. $ 16,900 21 Required 1 Required 2 Required 3 Record any journal entries that should be made as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Credit June Checks written Deposits Record the entry for deposits during June. $ 15,650 Required 4 Balance $ 7,350 23,000 6,100 6,079 6,079 General Journal 19,550 Debit Credit > V Prey 5 of 5 TT 1 Score answer
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To complete the bank reconciliation we need to compare the bank statement and the cash ledger accoun... View the full answer
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
Posted Date:
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