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Bank Reconciliation Jerico, Inc. received the May bank statement with an ending balance of $30,000. The company general ledger stated an ending cash balance of $35,973. Jerico, Inc. Bank Reconciliation The following items were the discrepancies: 1 A note receivable deposited into the bank through a wire transfer for $200 May 31, 2020 2 Deposits in transit of $4,500 3 Bank fee $18 4 EFT- monthly car payment $400 5 NSF - customer check that did not clear the bank $1,500 6 Bank fee on the customer bounced check $25 7 Outstanding checks were as follows: Page 1 Balance per bank Balance per books Add: Add: Check # 105 $230 Check # 117 $15 Deduct: Deduct: 8 A check was mistakenly recorded by the accountant as $50 but accurately cleared the bank as it was written for $55. 9 Bank interest $30

Bank Reconciliation Jerico, Inc. received the May bank statement with an ending balance of $30,000. The company general ledger stated an ending cash balance of $35,973. Jerico, Inc. Bank Reconciliation The following items were the discrepancies: 1 A note receivable deposited into the bank through a wire transfer for $200 May 31, 2020 2 Deposits in transit of $4,500 3 Bank fee $18 4 EFT- monthly car payment $400 5 NSF - customer check that did not clear the bank $1,500 6 Bank fee on the customer bounced check $25 7 Outstanding checks were as follows: Page 1 Balance per bank Balance per books Add: Add: Check # 105 $230 Check # 117 $15 Deduct: Deduct: 8 A check was mistakenly recorded by the accountant as $50 but accurately cleared the bank as it was written for $55. 9 Bank interest $30

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 5.21E
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Bank Reconciliation Jerico, Inc. received the May bank statement with an ending balance of $30,000. The company general ledger stated an ending cash balance of $35,973. Jerico, Inc. Bank Reconciliation The following items were the discrepancies: 1 A note receivable deposited into the bank through a wire transfer for $200 2 Deposits in transit of $4,500 3 Bank fee $18 4 EFT- monthly car payment $400 5 NSF – customer check that did not clear the bank $1,500 6 Bank fee on the customer bounced check $25 7 Outstanding checks were as follows: May 31, 2020 Page 1 Balance per bank Balance per books Add: Add: Check # 105 $230 Deduct: Deduct: Check # 117 $15 8 A check was mistakenly recorded by the accountant as $50 but accurately cleared the bank as it was written for $55. 9 Bank interest $30
Transcribed Image Text:Bank Reconciliation Jerico, Inc. received the May bank statement with an ending balance of $30,000. The company general ledger stated an ending cash balance of $35,973. Jerico, Inc. Bank Reconciliation The following items were the discrepancies: 1 A note receivable deposited into the bank through a wire transfer for $200 2 Deposits in transit of $4,500 3 Bank fee $18 4 EFT- monthly car payment $400 5 NSF – customer check that did not clear the bank $1,500 6 Bank fee on the customer bounced check $25 7 Outstanding checks were as follows: May 31, 2020 Page 1 Balance per bank Balance per books Add: Add: Check # 105 $230 Deduct: Deduct: Check # 117 $15 8 A check was mistakenly recorded by the accountant as $50 but accurately cleared the bank as it was written for $55. 9 Bank interest $30
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