{"id":2953,"date":"2020-10-31T08:47:06","date_gmt":"2020-10-31T08:47:06","guid":{"rendered":"http:\/\/onlineclassesguru.com\/?p=2953"},"modified":"2020-10-31T08:47:06","modified_gmt":"2020-10-31T08:47:06","slug":"create-a-bank-reconciliation","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2020\/10\/31\/create-a-bank-reconciliation\/","title":{"rendered":"Create a bank reconciliation."},"content":{"rendered":"<style type=\"text\/css\"><\/style><p>The following is information for the Bittman Company Ltd.:<br \/>\na. Balance per the bank statement for December 31, 2019 is $25,430.<br \/>\nb. Balance of the Cash account in the general ledger at December 31 is $11,040.<br \/>\nc. A cheque for $840 that had been deposited in the bank was incorrectly<br \/>\nrecorded in the general ledger as $930.<br \/>\nd. A cheque for $2,100 deposited on December 21 was returned by the bank<br \/>\nmarked NSF; no entry has been made on the company records to reflect the<br \/>\nreturned cheque.<br \/>\ne. Among the cancelled cheques is one for $345 given in payment of an account<br \/>\npayable; the cheque has been recorded as $480 in the company records.<br \/>\nf. Bank service charges for December amount to $50. These were not yet<br \/>\nrecorded in the company records.<br \/>\ng. The bank erroneously charged the Bittman Company account for a $10,000<br \/>\ncheque of the Pittman Company.<br \/>\nh. The bank had collected a $15,000 note plus accrued interest amounting to $75;<br \/>\n$15,075 was credited to Bittman\u2019s account; a collection fee of $10 was debited<br \/>\nto Bittman Company\u2019s account. None of these transactions were recorded in<br \/>\nthe company records.<br \/>\ni. The bank deposit made December 3 for $1,570 does not appear on the bank<br \/>\nstatement<br \/>\nj. Outstanding cheques at December 31 were no. 197, $4,000, and no. 199,<br \/>\n$9,000.<br \/>\nRequired:<br \/>\n1. Prepare a bank reconciliation statement at December 31, 2019.<br \/>\n2. Prepare the necessary adjusting journal entries to make the Cash account in<br \/>\nthe general ledger agree with the bank reconciliation adjusted cash balance at<br \/>\nDecember 31.<\/p>\n<p><center><a href=\"http:\/\/onlineclassesguru.com\/orders\/ordernow\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcTyj99p60XCLyLk1htB7-1neRt8-2QdnenNlQ&usqp=CAU\"target=\"_http:\/\/onlineclassesguru.com\/orders\/ordernow\"\/><\/center><p>","protected":false},"excerpt":{"rendered":"<p>The following is information for the Bittman Company Ltd.: a. Balance per the bank statement for December 31, 2019 is $25,430. b. Balance of the Cash account in the general ledger at December 31 is $11,040. c. A cheque for $840 that had been deposited in the bank was incorrectly recorded in the general ledger&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2953","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Create a bank reconciliation. - onlineclassesguru<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/onlineclassesguru.com\/index.php\/2020\/10\/31\/create-a-bank-reconciliation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Create a bank reconciliation. - onlineclassesguru\" \/>\n<meta property=\"og:description\" content=\"The following is information for the Bittman Company Ltd.: a. 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