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# Imagine you are the accountant for Floral Design Company and

Imagine you are the accountant for Floral Design Company and are assigned to prepare the monthly bank reconciliation. Complete this task, by using the data below:
1. Complete the bank reconciliation for the month of June.
2. Prepare the journal entries required by the reconciliation.

Floral Design Company's bank statement for June shows the following data:
Balance on June 1 \$12,350.
NSF check \$175.
Balance on June 30 \$14,280.
Collection of note receivable \$505.

The cash balance per books at June 30, was \$13,292. Your review of the data reveals the following:
1. The NSF check was from Bobble Co, a customer.
2. The note collected by the bank was a \$500 note with \$5 interest.
3. Outstanding checks at June 30 total \$2410.
4. Deposits in transit at June 30 total \$1752.

#### Solution Preview

Imagine you are the accountant for Floral Design Company and are assigned to prepare the monthly bank reconciliation. Complete this task, by using the data below:
1. Complete the bank reconciliation for the month of June.
2. Prepare the journal entries required by the reconciliation.

Floral Design Company's bank statement for June shows the following data:
Balance on June 1 \$12,350.
NSF check \$175.
Balance on June 30 \$14,280.
Collection of note receivable \$505. ...

#### Solution Summary

Imagine you are the accountant for Floral Design Company and are assigned to prepare the monthly bank reconciliation. Complete this task, by using the data below:
1. Complete the bank reconciliation for the month of June.
2. Prepare the journal entries required by the reconciliation.

Floral Design Company's bank statement for June shows the following data:
Balance on June 1 \$12,350.
NSF check \$175.
Balance on June 30 \$14,280.
Collection of note receivable \$505.

The cash balance per books at June 30, was \$13,292. Your review of the data reveals the following:
1. The NSF check was from Bobble Co, a customer.
2. The note collected by the bank was a \$500 note with \$5 interest.
3. Outstanding checks at June 30 total \$2410.
4. Deposits in transit at June 30 total \$1752.

\$2.19