Problem 1noints) Prepare a bank reconciliation dated December 31, 2004, for Jacq
ID: 2564482 • Letter: P
Question
Problem 1noints) Prepare a bank reconciliation dated December 31, 2004, for Jacque's Espresso and Books based on the following information. Balance per bank statement is $21,200.68. Balance per books is $20,559.40. The December bank statement indicated a service charge of $35. · Check #1 169 for $410.50 and check #1 1 83 for$2,150.00 were not returned with the bank The bank did not receive a deposit in transit of $3,443,.22 when the bank statement was . A bank debit memo indicated an NSF check written by Bill Bush to Jacque's Espresso .A bank credit memo indicated a bank collection of $1,700 and interest revenue of $28 on statement. generated. and Books on December 11, 2004, for $169. December 15, 2004. 2- Prepare the required journal entries.Explanation / Answer
Bank reconciliation statement Description Amount Balance as per Bank 21,200.68 Bank fee and charges 35.00 Direct transfer by client to bank account (1,700.00) Bank Interest (28.00) Deposit not yet reflected in bank 3,443.22 NSF Cheque 169.00 Cheque not yet presented 1169 (410.50) 1183 (2,150.00) total of above 20,559.40 Balance as per Cash account 20,559.40 Variance -