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Important information about Bank Reconciliation Statement

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.


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
Less: Outstanding checks
16552 $10,460.60
16549 ...

Solution Summary

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