E5.8

 

Bank reconciliation  Prepare a bank reconciliation as of August 31 from the 
following information
 a.  The August 31 balance shown on the bank statement is $4,905.  Bank statement $4,905
 b.  There is a deposit in transit of $630 at August 31.  DIT $630
 c.  Outstanding checks at August 31 totaled $945.  OS-Checks $945
 d.  Interest credited to the account during August but not recorded on the company’s books amounted to $54 Interest $54
 e.  A bank charge of $28 for checks was made to the account during August. Although the company was expecting a charge, its amount was not known until the bank statement arrived Bank Charge-new checks $28
 f.  In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of P of 759 had been recorded as a disbursement of $579 Check error $180
 g.  The August 31 balance in the general ledger Cash account, before reconciliation, is $4,744 Check book Balance $4,744
 
Balance per Bank   $4,905 Balance per books   $4,744
           
           
       
Balance per Bank       Balance per books  

 
         
           
 

 
         
           
           
           

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