Question

On November 30 of the current year, the bank statement, showed a balance of $3,338.20 in the Halekulani Hotel bank account. The general ledger showed a debit balance of $4,195.20 at November 30. The following information was also determined:

a) A customer’s cheque for $970 marked NSF was returned with the bank statement and was deducted from the bank account. The bank also deducted $25.00 to process the NSF cheque

b) The November 30 cash receipts of $1,984.05 were placed in the bank’s night depository after banking hours November 30 but this did not appear on the bank statement.

c) $33.05 in cheque processing fees were deducted from the bank statement by the bank.

4. Cheques totaling $2,110 which were written by the Halekulani Hotel during November were not returned with the bank statement and not yet deducted by the bank.

5. The bank paid the Halekulani Hotel $45.10 in interest for maintaining a minimum balance in their account for the month

REQUIRED: Use back of a page for rough work.

Prepare a bank reconciliation, in good form, for the Halekulani Hotel.

Answer 1

BANK RECONCILIATION STATEMENT

PARTICULARS $

Debit Balance in general ledger as on Nov., 30 4195.20

Less: Cheques returned by bank marked NSF (970)

Less: Charges for Processing NSF Cheque of $970 (25)

Less: Cash deposit but didn't appear in the bank statement since deposit   (1984.05)

was made on Nov, 30 after banking hours

Less: Cheque processing fee deducted by bank in bank statement (33.05)

Add: Cheque written by Halekulani Hotel were not yet returned by bank 2110

and also not ye deducted by bank   

Add: Interest paid by bank for maintaining minimum bank balance 45.10

Balance shown by bank in the bank statement as on Nov, 30    3338.20