prepare a bank reconciliation for pizza, inc as of june 30 from the following in

ID: 2426175 • Letter: P

Question

prepare a bank reconciliation for pizza, inc as of june 30 from the following information; (a) The june 30 balance show on the bank statement is $2,888 (b) outstanding checks at june 30 totaled $ 175 (C) a deposit of $212 made on june 30 was not included in the balance shown on the bank statement. (D) The bank statement contain an adjustment of $ 204 for a note receivable collected by the bank on behalf of Pizza, INC (191 principal and 13 intrest. (E) A bank charge of $ 17 was made to the account during june. Although the company was expecting a charge, the amount was not shown until the bank statement arrived (F) The bank erroneously charge a $170 check of cheese, Inc, again the Pizza, Inc bank account. (G) The june balance in the general ledger cash account before reconciliation is $ 3,013 (H) The bank statement included a notice that a customer check for $86 that had been depositedon june 14 had been returned NSF. Required: 1. prepare a bank reconciliation for SHOW ME, Inc as of june 30. ( 2) Prepare the appropriate adjusting entry(ies) or show the reconciliing items in a horizontal model, for SHOW ME ,inc relate to the bank reconciliation.

Explanation / Answer

Balance as per bank 2,888

less:outstanding checks (175)

Add:Deposits in transit 212

Add:errors 170

Adjusted balance 3,095

Balance as per cash ledger $3,013

Add:note receivable 191

interest earned 13

less:Service charge (34)

NSF (86)

Adjusted balance $3,095

Adjusting entries