Bank reconciliation

Kipling company deposits all receipts and makes all payments by check. The following information is
available from the cash records.

June 30 bank reconciliation

Balance per bank 7000
Add: Deposits in transit 1540
Deduct : Outstanding checks 2000
Balance per books 6540

Monthly july result

Per bank per book
Balance july 31 8650 9250
July deposits 4500 5810
July checks 4000 3100
July notes collected 1500 -
July bank service charge 15 -
July NSF check from a customer 335 -

Prepare a bank reconciliation going from balance per bank and balance per book to correct cash
balance.
Prepare the general journal entry or entries to correct the Cash account

2.Aragon Company has just received the August 31,2011, bank statement , which is summarized
below.
Country National Bank Disbursements Receipts balance
Balance, august 1 9369
Deposits during August 32200 41569
Notes collected for depositor including 40 1040 42609
Checks cleared during August 34500 8109
Bank service charge 20 8089
Balance, august 31 8089

The general ledger cash account contained the following entries for the month August
Cash
Balance , August 1 10050 Disbursement in August 35403
Receipts, during August 35000

Deposits in transit at August 31 are 3800 and checks outstanding t August 31 total 1550. Cash on hand at
August 31 is 310 . The bookkeeper improperly entered one check in the books at 146.50 which was
written for 164.50 for supplies (expense) it cleared the bank during the month of August.

Prepare bank reconciliation dated August 31,2011 proceeding to correct a balance.

Prepare any entries necessary to make the books correct and complete
What amount of cash should be reported in the August 31 statement of financial position?
3. The cash account of Augilar Co. Showed a ledger balance of 3969.85 on June 30,2010. The bank
statement as of the date showed a balance of 4150. Upon comparing the statement with the cash
records , the following facts were determined.

1. There were bank service charge for of june 25

2. A bank memo stated that Bao dias note for 1200 and interest 36 had been collected on June 29,
and the bank had made a charge of 5.50 on the collection ( no entry had been made on Aguilar
books when Bao Dais note was sent to the bank for collection)
3. Receipts for june 30 for 3390 were not deposited until july 2.
4. Checks outstanding on june 30 totaled 2136.05
5. The bank had charge the Aguilar Co’s account for customer’s uncollectible check amounting to
253.20 June 29.
6. A customer check for 90 had been entered as 60 in the cash receipts journal by Aguilar on june
15.
7. Check n0.742 in the amount of 491 had been entered in the cash journal as 419, andcheck noo.
747 in the amount of 58.20 had been entered as 582. Both checks had been issued to pay for
purchases of equipment.

Prepare a bank reconciliation dated june 30,2010 proceeding to a correct cash balance.
Prepare any entries necessary to make the books correct and complete.
4.Presented below is information related to Haselhof Inc.
Balance per books at October 31 41847.85
Receipts 173523.91
Disbursements 164893.54
Balance per bank statement November 30 56274.20
The following checks were outstanding at November 30
1224 1635.29
1230 2468.30
1232 2125.15
1233 482.17

Included with the November bank statement and not recorded by the company were a bank debit
memo for 27.40 covering the bank charges for the month , a debit memo for 372.13 for a customer
check returned and NSf and a credit memo for 1400 representing bond interest collected by the bank in
the name of Haselhof Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to
1915.40.

Prepare a bank reconciliation

Prepare any journal entries required to adjust the cash account at November 30.