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[answered] Lotus Lake, Inc. Bank Reconciliation ` Account Description


I need the bank rec prepared in excel please , just open up the EXCEL link to look at what I'm talking about, its a short question, the rest of the work is already completed!!!!


Lotus Lake, Inc. Bank Reconciliation `

 

Account Description

 

GL Account Number

 

Bank Account Number May 31, 2011 General Cash

 

101

 

100054329 Prepared By

 

Reviewed By Balance Per Bank Statement Date

 

Date Balance Per General Ledger Add: Add: - - Subtract: Subtract: - - Other: Other: Balance

 

Difference - - Balance - Chapter 7, P 5. CHAPTER 7 HOMEWORK----NAME: 1. Bank reconciliation prepared

 

Lotus Lake, Inc.

 

Bank Reconciliation

 

May 31, 2011

 

Balance per bank, May 31

 

Add: deposit in transit $53,451.46

 

$ 5,220.94 check of another company mistakenly deducted

 

by bank 750.00 5,970.94

 

$59,422.40 Less outstanding checks 3,936.80 Adjusted bank balance, May 31 $55,485.60 Balance per books, May 31 $43,784.16 Add: note receivable collected by bank $12,000.00 interest on note collected by bank 200.00 interest on average balance 250.00 12,450.00

 

$56,234.16 Less: checkrecorded incorrectly in check register

 

bank service charge

 

nsf check of justin curtis

 

Adjusted book balance, May 31 $ 540.00

 

30.00

 

178.56 748.56

 

$55,485.60 CHAPTER 7 HOMEWORK-NAME-Chapter 7, P 5. (Continued)

 

2. Journal entries prepared 2011

 

May 31 cash

 

notes receivable

 

interest income

 

To record note and interest collected

 

by bank 12,000.00

 

200.00 31 cash

 

interest income

 

To record interest on average bank

 

account balance 250.00 31 equipment

 

cash

 

To correct an incorrect entry for purchase

 

of equipment

 

$1,920 ?

 

$1,380

 

= $540 540.00

 

# 31 bank service charges expense

 

cash

 

To record bank service charge for May

 

31 accounts receivable

 

cash

 

To record NSF check of Justin Curtis

 

returned by bank

 

3. 12,200.00 The adjusted cash balance of $55485.60 250.00 540.00 30.00

 

30.00

 

178.56

 

178.56 Should appear on the balance sheet.

 


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