1) Prepare a bank reconciliation dated December 31, 2020, for Welcome Inc. based on the following information. Balance per bank statement is $21,200.68. Balance per books is $20,559.40. The December bank statement indicated a service charge of $35. Cheque #1169 for $410.50 and cheque #1183 for $2,150.00 were not returned with the bank statement. The bank had not received a deposit in transit of $3,443.22 when the bank statement was generated. A bank debit memo indicated an NSF cheque written by Bill Broke to Welcome Inc. on December 11, 2020, for $169. A bank credit memo indicated a bank collection of $1,700 and interest revenue of $28 on December 15, 2020.
1) Prepare a bank reconciliation dated December 31, 2020, for Welcome Inc. based on the following information. Balance per bank statement is $21,200.68. Balance per books is $20,559.40. The December bank statement indicated a service charge of $35. Cheque #1169 for $410.50 and cheque #1183 for $2,150.00 were not returned with the bank statement. The bank had not received a deposit in transit of $3,443.22 when the bank statement was generated. A bank debit memo indicated an NSF cheque written by Bill Broke to Welcome Inc. on December 11, 2020, for $169. A bank credit memo indicated a bank collection of $1,700 and interest revenue of $28 on December 15, 2020.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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Transcribed Image Text:1) Prepare a bank reconciliation dated December 31, 2020, for Welcome Inc. based on the following
information. Balance
per bank statement is $21,200.68.
Balance per books is $20,559.40.
The December bank statement indicated a service charge of $35.
Cheque #1169 for $410.50 and cheque #1183 for $2,150.00 were not returned with the bank statement.
The bank had not received a deposit in transit of $3,443.22 when the bank statement was generated.
A bank debit memo indicated an NSF cheque written by Bill Broke to Welcome Inc. on
December 11, 2020, for $169.
A bank credit memo indicated a bank collection of $1,700 and interest revenue of $28 on
December 15, 2020.
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