Following is the June 30, 2014 bank reconciliation for the Scenic View Mountain

Question

Following is the June 30, 2014 bank reconciliation for the Scenic View Mountain Lodge. You are also provided with the October check register and bank statement. Utilize this information to prepare October's bank reconciliation and related adjusting entry. You may assume that any discrepancies between the check register and bank statement relate to recording errors in the accounts of the Scenic View Mountain Lodge, and not the bank.

Bank Reconcilation - June 30, 2014 Ending balance per bank statement $   18,344.07 Add: Deposits in transit       2,505.55 Deduct: Outstanding checks #3444 $      175.00 #3446       1,908.09      (2,083.09) Correct cash balance $   18,766.53

Explanation / Answer

Entry sholud be pass of $10

Item # Adjustment to Books Bank balance $18,344.07 1 Interesting Earning +$80.00 2 - Service charge -10 3 Debit expense, credit cash Charges $10 4 Outstanding checks #3444 $      175.00 #3446       1,908.09 5 $(2083.09) - Uncleared checks - 80,000 6 None + Deposits in transit + 2505,55 7 None Book balance   $18.766.53

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