The bank account as a control device helps to protect cash. One of the requirements is to conduct periodic bank statement reconciliations. Using the following data, complete the bank statement reconciliation for J & J Flooring, Inc.

•The bank statement indicated a service charge of $56.

•J & J made a deposit on May 31, but this deposit did not appear on the bank statement, $1,451.

•A credit memo in the bank statement indicated a bank collection of a note for $1,300 with interest received of $16. This item was dated May 18.

•Also included in the bank statement was a debit memo for a NSF check for $314 from Barney Smythe.

•Checks #1406 for $1,342, #1610 for $1,609, and #1825 for $857 were written by J & J and sent to the respective companies, but these checks do not appear on the bank statement.

•The balance on the bank statement as of May 31 was $13,019.

•The Cash account on Janus' books showed an amount of $9,716.

Answer rating: 100% (QA)

answer Balance as per Bank Statement as on 31st May 13019 Le... View the full answer