Purchase Solution

Important information about Bank Reconciliation Statement

Not what you're looking for?

Ask Custom Question

Consider the following information for Susan Supplies Store for the month of June.

* Deposits in transits as of June 30, were $3,785.15.

* Interest revenues earned was $1,300.

* Bank service charges amounted to $48.

* An error was discovered: The bank deducted from the Susan Supplies Store account a check for $161.03 that was written by Susie's Office Furniture.

* The following checks were still outstanding as of the bank statement date:

o 16552 $10,460.60
o 16549 $200.58
o 16560 $532.27

* The Office Accountant recorded a deposit of $332 as $223.

* The bank returned a check from a customer as NSF in the amount of $1,059.17.

* Balance per the bank on June 30 was $45,020.59.
Given the above information, determine the ending cash balance that appears on the Susan Supplies Store books.

Purchase this Solution

Solution Summary

The solution explains how to make a bank reconciliation and determine the ending cash balance

Solution Preview

Please see the attachment.

Bank Reconciliation
Balance per bank statement, June 30 45,020.59
Add: Deposits in Transit 3,785.15
Add: Susie Office Furniture check 161.03
48,966.77
Less: Outstanding checks
16552 $10,460.60
16549 ...

Purchase this Solution


Free BrainMass Quizzes
Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

Income Streams

In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.

MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

Employee Orientation

Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.