Bank reconcilliation and depreciation problem

You are to complete the May 31 bank reconciliation for Laclede Town Center using the following information:

A. Outstanding check: C. Deposit in transit..........$2,370
No. 975 ...........$1,360 D. Note collected by bank as
No. 991 200 Laclede's agent (no interest)
No. 1073 1,200 ...............................$6,400
B. Check no. 1018 (for Repair Expense) E. NSF check of M..T Pott .. 840
Was written for $328 fut erroneously recorded in F. Bank Service Charge..... 30
Laclede's as $238.
Difference..................90

Laclede Town Center
Bank Reconciliation
May 31, 19

Balance per Statement, may 31 $21,130
Add: ______
$
Less:

Adjusted balance $______

Balance per depositor's records, May 31 $15,300
Add:

Less: $_____

Adjusted balance (as above) $_______

1996 General Journal Debit Credit
May 31

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Problem #1

Balance per statement, May 31 21,130
Add:
Deposit in transit 2,370
23,500
Less:
Outstanding checks 2,760
Adjusted balance 20,740

Balance per depositor's records, May 31 15,300
Add:
Note collected by bank ...

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This solution looks at a bank reconciliation and depreciation problem.

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Giovanni Chin-A-Sen, MBA

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