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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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This question was answered on: Sep 18, 2020
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