Explore BrainMass

Explore BrainMass

    Bank reconcilliation and depreciation problem

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    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

    © BrainMass Inc. brainmass.com June 3, 2020, 5:15 pm ad1c9bdddf
    https://brainmass.com/business/auditing/bank-reconciliation-depreciation-problem-19953

    Attachments

    Solution Preview

    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 ...

    Solution Summary

    This solution looks at a bank reconciliation and depreciation problem.

    $2.19

    ADVERTISEMENT