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    Answer to "Bank Reconciliation" question

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    PART V ? BANK RECONCILIATION
    A review of the November 30 bank statement and other data of Jones Company reveals the following:

    1. Balance per bank statement on November 30 $20,200
    2. Balance per books on November 30 $14,388
    3. NSF Check from J. Smith in payment of account $220
    4. Collection of $3,605 note receivable that had not been recorded by the
    company 3,605
    5. Deposits in transit at November 30 2,800
    6. Outstanding checks at November 30 5,400
    7. A check written by Jones to Green for equipment on November 10 was
    recorded at $463 but correctly cleared the bank at $436.
    8. A check drawn on the account of Johns Company for $200 was mistakenly
    charged against Jones' account by the bank.

    Instructions: Prepare the November 30 (a) bank reconciliation (omit heading) and (b) related journal entries.

    (a) BANK RECONCILIATION:
    Amount Amount
    Balance per bank statement $20,200 Balance per books $14,388

    Adjusted balance per bank $ Adjusted balance per books $

    (b) ENTRIES:
    Account Titles Debit Credit

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    https://brainmass.com/business/journal-entries/answer-to-bank-reconciliation-question-196006

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    PART V ? BANK RECONCILIATION
    A review of the November 30 bank statement and other data of Jones Company reveals the following:

    1. Balance per bank statement on November 30 $20,200
    2. Balance per books on November 30 $14,388
    3. NSF Check from J. Smith in payment of account $220
    4. Collection of $3,605 note receivable that had not been recorded by the
    company 3,605
    5. Deposits in transit at November 30 ...

    Solution Summary

    The solution explains how to prepare a bank reconciliation and the related journal entries.

    $2.19