Preparing a bank reconciliation Harrison Photography’s checkbook list following:
ID: 2427999 • Letter: P
Question
Preparing a bank reconciliation
Harrison Photography’s checkbook list following:
Date
Check no.
Item
Check
Deposit
Balance
Nov 1
$540
4
622
Quick mailing
$15
525
9
Service revenue
$130
655
13
623
Photo supplies
55
600
14
624
Utilities
75
525
18
625
Cash
60
465
26
626
Office supplies
85
380
28
627
Upstate reality
265
115
30
Service revenue
1,210
1,325
Internal control and cash
Harrison’s November bank statement shows the following
Balance
$540
Deposit
130
Debit checks:
No.
Amount
622
$15
623
55
624
115*
625
60
(245)
Other charges
Printed checks
35
Service charge
20
(55)
Balance
$370
*this is the correct amount for check number 624
Requiements
Prepare Harrison Photography’s bank reconciliation at November 30, 2015
How much cash does Harrison actually have on November 30, 2015?
Journalize any transactions required from the bank reconciliation.
Date
Check no.
Item
Check
Deposit
Balance
Nov 1
$540
4
622
Quick mailing
$15
525
9
Service revenue
$130
655
13
623
Photo supplies
55
600
14
624
Utilities
75
525
18
625
Cash
60
465
26
626
Office supplies
85
380
28
627
Upstate reality
265
115
30
Service revenue
1,210
1,325
Explanation / Answer
Schdule of bank reconcilation statement: Amount ($) Balance as per checkbook 1325 Add: Cheque issued but not presented for payment Ch.no. 626 85 Ch. no. 627 265 350 Less: Service revenue not shown in bank statement 1210 Uncorrect amount debited for ch no. 624 (115-75) 40 Bank charge debited but not recorded in check book 55 Bank balance as per statement 370