Question

The following information is for SeaTrans Ltd. in April: 1. Cash balance per bank, April 30,...

The following information is for SeaTrans Ltd. in April:
1. Cash balance per bank, April 30, $14,606.73
2. Cash balance per book, April 30, $4,387.55
3. Outstanding cheques, $5,904.00
4. Deposit in transit, $2,201.40
5. Bank service charge and debit/credit card fees, $165.00
6. Electronic receipts from customers in payment of the amount $ 6,787.18, not previously received by the company
7. Return from bank two NSF cheques including service charges, 465.60
8. Cheque # 459 was correctly written in the amount of $3,260.00 but was incorrectly written by the company’s bookkeeper as $3,620.00. The cheque was written for the purchase of office supplies.
Required:
​Prepare the bank reconciliation statement at April 30.

Homework Answers

Answer #1
Bank Reconciliation Statement
Balance as per bank statement 14606.73 balance as per books 4387.55
Add: Add:
Deposits in transit 2201.4 EFT 6787.18
Check wrongly recorded 360
Subtotal 16808.13 11534.73
Less: Less:
Outstanding checks 5904 NSF check with charges 465.6
Service charges 165
Adjusted balance as per bank st. 10904.13 Adjusted balance as per books 10904.13
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