Question

Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here:...

Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here:

BANK STATEMENT

Checks Deposits Other Balance
  Balance, June 1 $ 7,400
  Deposits during June $ 19,000 26,400
  Checks cleared during June $ 20,100 6,300
  Bank service charges $ 32 6,268
  Balance, June 30 6,268

Cash (A)
  June 1      Balance 6,900  
  June      Deposits 21,000   20,400                Checks written     June
  June 30      Balance

7,500

Homework Answers

Answer #1
Bank reconciliation
June 30
Bank statement Company's books
Ending balance per Bank statement 6268 Ending balance per Cash account 7500
Additions: Additions:
Deposits in transit 2000
2000 0
8268 7500
Deductions: Deductions:
Outstanding checks 800 Bank service charges 32
800 32
Up-to date cash balance 7468 Up-to date cash balance 7468
Journal entry:
Office expenses 32
       Cash 32
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