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

Simple bank rec problem, please help I just need help putting the bank rec together on the first sheet in excel, the rest of the work is already done

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

\$ 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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