The December 31, 2020 bank balance is $100,000 as per the bank statement.

The following cheques were written and had not been cashed as of December 31:

Cheque Date	Cheque Number	Amount
January 6, 2020	5	$1,050
May 14, 2020	18	$7,500
June 23, 2020	26	$380
August 12, 2020	32	$528
October 25, 2020	35	$6,350
December 18, 2020	46	$350
December 23, 2020	51	$105
December 23, 2020	52	$8,000
December 24, 2020	53	$7,777

The CFO left cheques 51, 52, and 53 in the office during the holidays and did not mail them until January 4, 2021.

In addition, the controller deposited a cheque for $2,500 at an ATM on December 31, 2020 that was not reflected in the bank account until January 4^th, 2021?

Required:

Prepare the bank reconciliation (in Excel) for December 31, 2020 and provide your thought process where needed.

Answer rating: 100% (QA)

Bank Reconciliation Statement as of December 31 2020 Items Amount Balance as per Bank Statement 1000... View the full answer