Memo #7Dated April 15, 2017

Make payroll tax remittance to the Receiver General for the pay periods ending April 15, 2017. Include remittance for income tax, EI and CPP. Issue cheque #434.

20. Bank reconciliation.

Set up account 1080 for account reconciliation.

Use the following linked accounts. Create new accounts if necessary.

Income: Interest 4280 Revenue from Interest

Expense1: Bank Charges 5010 Bank & Credit Card Fees

Expense2: NSF fee 5010 Bank & Credit Card Fees

Adjustment: 5005 Reconciliation Adjustments

Reconcile the account using April 1 start date andApril 15 as the statement end date and the reconciliation date.

There are two outstanding prior transactions

SourceDescriptionDateAmount

606Deposit slipMar 29Deposit $2 600

431Skin Decals, Inc.Mar 30Payment $1 800

(Hint: after adding the first outstanding transaction, click Insert Outstanding again to access a new transaction line.)

Use the following bank statement details to complete the reconciliation.

Withdrawalsdepositsbalance

Mar. 15Balance forward23 330.00

Mar. 29Deposit 6062 600.00

Mar. 30Cheque 431-1 800.00

Apr. 1Interest on account15.00

Apr. 1Cheque 432-2 373.00

Apr. 4Cheque 433-3 679.80

Apr. 8Deposit 6073 157.00

Apr. 8Payroll transfer Ref #68467.40

Apr. 15Deposit 6083 920.98

Apr. 15Debit memo-600.00

Apr. 15Transfer from 04328-4761994000.00

Apr. 15Transfer to 04328-599901 970.00

Apr. 15Payrolltransfer Ref #69-