Labels:

For the Month Ended June $30,20$Y$2$

June $30,20$Y$2$

Amount Descriptions

Adjusted balance

Bank service charges

Check returned because of insufficient funds

Error in recording June $10$ deposit

Error in recording June $24$ deposit

Error in recording Check No$.743$

Deposit in transit on June $30$

Note collected by bank, including $$210$ interest

Outstanding Check No$.738$

Outstanding Check No$.756$

Outstanding Check No$.758$

Outstanding Check No$.759$

Total additions

Total deductions

$1.$ Prepare a bank reconciliation as of June $30,20$Y$2.$ If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable.

$2.$ Journalize the necessary entries.

$3.$ What is the amount of Cash that should appear on the balance sheet as of June $30,20$Y$2?$

$4.$ Assume that a canceled check for $$390$ has been incorrectly recorded by the bank as $$930.$ Briefly explain how the error would be included in a bank reconciliation and how it should be corrected.