PRACTICE EXERCISE 9 From the following information, prepare a bank reconciliation statement for the Asian Book Store on February 28, 20-. Follow these steps carefully: Compare the outstanding deposit and the outstanding cheques shown on the January 31 reconciliation statement (Figure 9.20a) with the deposits and cheques listed on the February bank statement (Figure 9.20b). If these items now appear on the bank statement, they are no longer outstanding. Therefore, you should put a check mark beside each of these amounts on the bank statement. Figure 9.20a Bank Reconciliation for January Bank Statement Balance Outstanding Deposit less: Outstanding Cheques #231 #232 Adjusted Balance Asian Book Store Bank Reconciliation January 31, 20 $1584 00 3250 00 483400 $1660 00 194000 360000 $1 2 3 4 00 Figure 9.20b Bank Statement for February Bank Statement (February) Date Cheques Deposits Balance Feb. 1 1,584 2 3,250 4,834 2 1,940 2,894 2 1,660 1,234 3 1,580 2,814 3 926 1,888 7 4,560 6,448 7 3,500 2,948 7 89 2,859 8 91 2,768 11 123 2,645 12 3,300 5,945 12 84 5,861 13 155 5,706 17 7,500 13,206 22 3,000 16,206 22 361 15,845 22 2,750 13,095 23 MTG 2,500 10,595 26 4,250 14,845 27 3,910 10,935 28 667 10,268 28 S/C 23 10,245 28 NSF 250 9,995 Figure 9.200 Cash Receipts Journal Figure 9.20d Cash Payments Journal Graded LP6.1 Assignment Petty Cash.xlsx Deposits Date Feb. 3 1,580 7 4,560 12 3,300 17 7,500 22 3,000 26 4,250 28 3,550 27,740 Cash Payments Journal Date Chq+ Amount Feb. 2 233 926 5 234 89 5 235 3,500 6 236 91 7 237 123 11 238 84 11 239 155 17 240 2,750 20 241 361 23 242 3.910 23 243 667 23 Mortgage 2,500 27 244 1,740 27 245 1,000 28 246 2,050 19,946 Check the February deports in the Cash Receipts. Journal (Fig 9.30c) against the depot and on the bank statement. White "DIS" beside any deposit in the journal fue does not appear on the barksten. These as the carwarding deposits that will be shown on this month's hunk reconciliation Check the erytrics in the Cash Payments Jemal (9.30) the choquand on the horkant. White "DIS" beide any payment in the jeemal that does not have a componding amount on the bank statement. These are the racing chepe to hewn on this month's hunk reconciliation The bake in the Bank account on the books at the end of any was $1.234. Use disaat and deals of the Cash Receipts and Cash Payments Jounds to cakulate the balace in the Back account of the end of February. The following we noted on the bank watement at the end of l'ebruary hat have not yet been recorded on the hooke (al monthly bank charges, $23. (b) NSF cheque from HP, $250. Finally, rod the General Journal entries for the lens at yet recorded on the book Asian Book Store Bank Reconciliation February 28, 20-- Bank Statement Balance Add: Outstanding Deposit Less: Outstanding Cheques Adjusted Balance Cash Book Balance Less: ??? ???? Adjusted Balance 20xx Feb 28 28 General Journal