Homework Help is Here – Start Your Trial Now!
Business
Accounting
Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Balance $ 7,550 23,100 6,300 6,260 6,260 $15,550 $16,800 40 Cash (A) 7,550 18,700 19,300 June 1 Balance June Deposits June Checks written Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,500. A deposit of $3,150 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation. 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 30?

Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 Balance $ 7,550 23,100 6,300 6,260 6,260 $15,550 $16,800 40 Cash (A) 7,550 18,700 19,300 June 1 Balance June Deposits June Checks written Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,500. A deposit of $3,150 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation. 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 30?

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
See similar textbooks
icon
Related questions
Question

Please answer the question. I provided two picture's so I do not have to type out everything! 

Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $ 7,550 23,100 6,300 6,260 6,260 $15,550 $16,800 40 Cash (A) June 1 Balance 7,550 18,700 June Checks written 19,300 June Deposits Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,500. A deposit of $3,150 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation. 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 30?
Transcribed Image Text:Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $ 7,550 23,100 6,300 6,260 6,260 $15,550 $16,800 40 Cash (A) June 1 Balance 7,550 18,700 June Checks written 19,300 June Deposits Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,500. A deposit of $3,150 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation. 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 30?
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,500. A deposit of $3,150 is in transit at the end of June. BENTLEY COMPANY Bank Reconciliation, June 30 Company's Books Bank Statement Additions: Additions: Deductions: Deductions: Correct cash balance Correct cash balance Required 1 Required 2 >
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,500. A deposit of $3,150 is in transit at the end of June. BENTLEY COMPANY Bank Reconciliation, June 30 Company's Books Bank Statement Additions: Additions: Deductions: Deductions: Correct cash balance Correct cash balance Required 1 Required 2 >
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 7 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Database design
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach (MindTap Course L…
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS