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Bogus Company's Bank Reconciliation

Prepare the bank reconciliation based on the following information;

Bogus Company's cash records for April 2004:
CASH RECEIPTS (CR)
date cash debit check # cash credit
april 2 $4,174 3113 $891
8 501 3114 147
10 559 3115 1,930
16 2,187 3116 664
22 1,854 3117 1,472
29 1,060 3118 1,000
30 337 3119 632
total ($10,672) 3120 1,675
3121 100
3122 2,413
Total ($10,924)

Cash account of Bogus Company at April 30th, 2004

CASH
DATE ITEM JOURNAL REF. DR. CR. BALANCE
April 1st Balance $13,911

30th CR.6 $10,672 $24,583

30th CP. 11 $10,924 $13,659

On April 30th, 2004, Bogus Company received the following bank statement:

Beginning balance: $13,911

Deposits and other Credits:
April 1st $300 EFT
4th $4,174
9th 501
12th 559
17th 2,187
22nd 1,300 BC
23rd 1,854 ($10,875)

Checks and other debits:
April 7th (check no#3113) $ 891
13th (check no#3115) $ 1,390
14 th 900 US
15th (check no#3114) $ 147
18th (check no# 3116) 664
21st 200 EFT
26TH ( check no#3117) 1,472
30th (check no#3118) 1,000
30th 20 C ($6,684)

Ending Balance $18,102

Additional data for the bank reconciliation:
a) The EFT deposit was a receipt of rent. The EFT debit was an insurance payment.

b) The unauthorized- signature check was received from a customer.

c) The $1,300 bank collection was for a note receivable.

d) The correct amount of check number 3115 is $1,390. (Bogus Company accountant mistakenly recorded the check for $1,930)

Solution Preview

Prepare the bank reconciliation based on the following information;

Bogus Company's cash records for April 2004:
CASH RECEIPTS (CR)
date cash debit check # cash credit
april 2 $4,174 3113 $891
8 501 3114 147
10 559 3115 1,930
16 2,187 3116 664
22 1,854 3117 1,472
29 1,060 3118 1,000
30 337 3119 632
total ($10,672) 3120 1,675
3121 100
3122 2,413
Total ($10,924)

Cash account of Bogus Company at April 30th, 2004

CASH
DATE ITEM JOURNAL REF. DR. CR. BALANCE
April 1st Balance $13,911

30th ...

Solution Summary

This solution is comprised of a detailed explanation to answer the request of the assignment of more than 500 words of text.

$2.19