Lisa Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.
June 30 Bank Reconciliation |
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Balance per bank |
$22,400 |
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Add: Deposits in transit |
4,928 |
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Deduct: Outstanding checks |
(6,400 |
) |
|
Balance per books |
$20,928 |
Month of July Results |
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Per Bank |
Per Books |
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Balance July 31 |
$27,680 | $29,600 | ||
July deposits |
14,400 | 18,592 | ||
July checks |
12,800 | 9,920 | ||
July note collected (not included in July deposits) |
4,800 | |||
July bank service charge |
48 | |||
July NSF check from a customer, returned by the bank (recorded by bank as a charge) |
1,072 |
Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.
LISA LANSBURY COMPANY |
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select an opening name for section one NSF checkBalance per bank statement, July 31Collection of noteDeposits in transitCorrect cash balance, July 31Outstanding checksBank service charge |
$enter a dollar amount |
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select between addition and deduction AddLess: |
select a reconciling item Correct cash balance, July 31Bank service chargeBalance per books, July 31Collection of noteBalance per bank statement, July 31Deposits in transitUnderstated check for suppliesNSF check |
enter a dollar amount |
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select between addition and deduction LessAdd: |
select a reconciling item Balance per bank statement, July 31Bank service chargeUnderstated check for suppliesCollection of noteCorrect cash balance, July 31Outstanding checksNSF checkBalance per books, July 31 |
enter a dollar amount |
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select a closing name for section one Bank service chargeBalance per bank statement, July 31Collection of noteBalance per books, July 31Deposits in transitOutstanding checksNSF checkCorrect cash balance, July 31 |
$enter a total amount for section one |
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select an opening name for section two Outstanding checksCorrect cash balance, July 31Collection of noteBalance per books, July 31Bank service chargeDeposits in transitNSF check |
$ |
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select between addition and deduction AddLess: |
select a reconciling item Deposits in transitBalance per bank statement, July 31Collection of noteBalance per books, July 31NSF checkCorrect cash balance, July 31Bank service chargeOutstanding checks |
enter a dollar amount |
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select between addition and deduction LessAdd: |
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select a reconciling item Bank service chargeBalance per bank statement, July 31NSF checkCollection of noteBalance per books, July 31Deposits in transitCorrect cash balance, July 31Outstanding checks |
$enter a dollar amount |
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select a reconciling item Deposits in transitBalance per bank statement, July 31Balance per books, July 31Bank service chargeNSF checkCollection of noteOutstanding checksCorrect cash balance, July 31 |
enter a dollar amount |
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enter a subtotal of the two previous amounts |
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select a closing name for section two Deposits in transitCorrect cash balance, July 31Balance per bank statement, July 31Outstanding checksBank service chargeCollection of noteBalance per books, July 31NSF check |
$enter a total amount for section two |
eTextbook and Media
List of Accounts
Prepare the general journal entry to correct the Cash account. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.
Bank Reconciliation- Lisa Lansbury Company | |||||
Amount | Amount | ||||
Bank Statement Balance | $27,680 | Book Balance | $29,600 | ||
Add: | Add: | ||||
Deposit in transit | $9,120 | Noe Correction | $4,800 | ||
(18592-14400)+4928 | |||||
Deduct | Deducted | ||||
Outstanding Check | -$3,520 | Servcie Charges | -$48 | ||
(12800-9920)-6400 | NSF | -$1,072 | |||
Adjusted Balance | $33,280 | Adjusted Balance | $33,280 |
S. No. | Account Tittle | Debit | Credit |
1 | Cash | $5,824.00 | |
Services Charges | $48.00 | ||
Accoutn Receivable | $1,072.00 | ||
Note Receivable | $4,800.00 | ||
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