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Instructions Beeler Furniture Company deposits all cash receipts each Wednesday and Friday in a night depository, after banking hours. The data required to reconcile the bank statement as of June 30, 20Y2, have been taken from various documents and records and are reproduced as follows. The sources of the data are printed in capital letters. All checks were written for payments on account. CASH ACCOUNT: Balance as of June 1 $9,317.40 $9,223 76 CASH RECEIPTS FOR MONTH OF JUNE DUPLICATE DEPOSIT TICKETS: Date and amount of each deposit in June: Date June 10 Amount $996.61 882.95 Date June 22 15 24 1,606.74 Date June 1 3 Amount $1,080.50 854.17 840.50 17 30 Amount $097.34 947.21 1.117.74
Instructions CHECKS WRITTEN: Number and amount of each check issued in June: Check No. 740 741 742 743 744 745 746 Amount $237.50 495.15 501.90 761.30 506.88 117.25 298.66 Check No. 747 748 749 750 751 752 753 Total amount of checks issued in June: $8,395.66 BANK RECONCILIATION FOR PRECEDING MONTH: Amount Void $450.90 640.13 276.77 299.37 537.01 380.95 Check No. 754 755 756 757 758 759 760 Amount $449.75 272.75 113.95 407.95 259.60 901.50 486.39
1 Cash balance according to bank statement 3 Adjustments: 3 4 Outstanding Check No. 731 Outstanding Check No. 736 Outstanding Check No. 738 7 Outstanding Check No. 739 Total adjustments 1 6 Deposit for May 31 not recorded by bank A Adjusted balance Beeler Furniture Company Bank Reconciliation May 31, 2012 $690.25 (162:15) (345.95) (251.40) (60.55) $9,447.20 (12980) 59,31740
ructions 11 Cash balance according to company's records 12 Adjustments: 13 Bank service charges 14 Adjusted balance fer to the June Bank Statement $9,352.50 I (35.10) $9,317.40 Required: 1. Prepare a bank reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Round your answers to two decimal places. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. 3. What is the amount of Cash that should appear on the balance sheet as of June 30, 20Y2?
Bank Reconciliation : Cash balance according to bank statement 1 Adjustments: > Deposit of June 30, not recorded by bank 4 Outstanding Check No. 738 Outstanding Check No. 756 Outstanding Check No. 758 Outstanding Check No. 759 Total adjustments 5 7 1 10 Adjusted balance 11 Cash balance according to company's records STOTT UITBIOro Compan Bank Reconciliation June 30, 20Y2 $1,117.74" (251.40) (113.95) (259.60) (901.50) $13,624.71 (408.71) $13,216.00 $10,145.50 Shaded c
Bank Reconciliation 11 Cash balance according to company's records 12 Adjustments: 13 14 15 16 17 18 19 20 Proceeds of note collected by bank: Interest Proceeds of note collected by bank: Principal Error in recording Check No. 743 Service charges Check returned because of insufficient funds Error in recording June 10 deposit Error in recording June 24 deposit Total adjustments 21 Adjusted balance 90.00 (75.00) (550.00) (100.00) (4.50) $10,145.50 $13,216.00