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Important information about Bank Reconciliation Statement

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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.

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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