Scribd
Upload
218 views

CHP 8 - in Class Exercise

The document provides information to complete a bank reconciliation for Del Gato Clinic for June 30. It states that the cash account shows a debit balance of $11,589 and the bank statement shows $10,555 on deposit. It provides details on outstanding checks, a bank service charge, an error on a recorded check amount, and cash receipts that were deposited after the bank statement date.

Uploaded by

Thomas Termote
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
218 views

CHP 8 - in Class Exercise

The document provides information to complete a bank reconciliation for Del Gato Clinic for June 30. It states that the cash account shows a debit balance of $11,589 and the bank statement shows $10,555 on deposit. It provides details on outstanding checks, a bank service charge, an error on a recorded check amount, and cash receipts that were deposited after the bank statement date.

Uploaded by

Thomas Termote
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Chapter 8 In-Class Exercise Thomas Termote

Chapter 8 Del Gato Clinic's cash account shows an $11,589 debit balance and its bank statement
shows $10,555 on deposit at the close of business on June 30.

a. Outstanding checks as of June 30 total $1,829.


b. The June 30 bank statement lists a $16 bank service charge.
c. Check No. 919, listed with the canceled checks, was correctly drawn for $467 in payment of
a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities
Expense and a credit to Cash in the amount of $476.
d. The June 30 cash receipts of $2,856 were placed in the bank's night depository after banking
hours and were not recorded on the June 30 bank statement

 Prepare its bank reconciliation using the above information.

DEL GATO CLINIC

Bank Reconciliation

June 30

Bank statement balance 10555 Book balance 11589

add add

Deposit in transit 2856 Error on check 9

13441 11598

Deduct deduct

Outstanding check 1829 Bank service charges 16

11582 11582
Exercise 8-14

Wright Company's cash account shows a $27,500 debit balance and its bank statement shows
$25,800 on deposit at the close of business on May 31.

a. The May 31 bank statement lists $100 in bank service charges; the company has not yet
recorded the cost of these services.
b. Outstanding checks as of May 31 total $5,600.
c. May 31 cash receipts of $6,200 were placed in the bank’s night depository after banking
hours and were not recorded on the May 31 bank statement.
d. In reviewing the bank statement, a $400 check written by Smith Company was mistakenly
drawn against Wright’s account.
e. The bank statement shows a $600 NSF check from a customer; the company has not yet
recorded this NSF check.

 Prepare its bank reconciliation using the above information.


 
 Prepare its bank reconciliation using the above information.
 
WRIGHT COMPANY
Bank Reconciliation
May 31
Balance as per bank statement 25800 Book balance 27500
add add
Deposit in transit 6200
Bank error 400

32400 27500
deduct deduct
Outstanding checks 5600 Bank service charges 100
NSF check 600

26800 26800

You might also like