The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying,...

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The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Balance, April 1, Current Year Deposits during April Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year Apr. 1 Balance Apr. Deposits $45,500 330 150 Deposits $36,600 1,360 Cash (A) 23,800 Apr. Checks written 41,900 Balance $32,800 69,400 70,760 25,260 24,930 24,780 24,788 42,400 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $5,900 (including $3,540 written before and $2,360 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Balance, April 1, Current Year Deposits during April Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year Apr. 1 Balance Apr. Deposits $45,500 330 150 Deposits $36,600 1,360 Cash (A) 23,800 Apr. Checks written 41,900 Balance $32,800 69,400 70,760 25,260 24,930 24,780 24,788 42,400 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $5,900 (including $3,540 written before and $2,360 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April.

Answer rating: 100% (QA)

amounting to5000 The reconciliation of the Cash account with the April bank statement would include the following steps 1 Start with the Balance repor... View the full answer