Exercise 9.7 Preparing a bank reconciliation statement. LO 9-9 Di Stefano Office Supply Company received a bank statement showing a balance of $67,705 as of March 31, 2019. The firm's records showed a book balance of $69,451 on March 31. The difference between the two balances was caused by the following items. 1. A debit memorandum for $44, which covers the bank's collection fee for the note. 2. A deposit in transit of $3,400. 3. A check for $242 issued by another firm that was mistakenly charged to Di Stefano's account. 4. A debit memorandum for an NSF check of $6,105 issued by Wozniak Construction Company, a credit customer. 5. Outstanding checks: Check 3782 for $1,900; Check 3840 for $145. 6. A credit memorandum for a $6,000 noninterest-bearing note receivable that the bank collected for the firm.
Exercise 9.7 Preparing a bank reconciliation statement. LO 9-9 Di Stefano Office Supply Company received a bank statement showing a balance of $67,705 as of March 31, 2019. The firm's records showed a book balance of $69,451 on March 31. The difference between the two balances was caused by the following items. 1. A debit memorandum for $44, which covers the bank's collection fee for the note. 2. A deposit in transit of $3,400. 3. A check for $242 issued by another firm that was mistakenly charged to Di Stefano's account. 4. A debit memorandum for an NSF check of $6,105 issued by Wozniak Construction Company, a credit customer. 5. Outstanding checks: Check 3782 for $1,900; Check 3840 for $145. 6. A credit memorandum for a $6,000 noninterest-bearing note receivable that the bank collected for the firm.
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 7.3BE
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![Exercise 9.7 Preparing a bank reconciliation statement. LO 9-9
Di Stefano Office Supply Company received a bank statement showing a balance of $67,705 as of March 31, 2019. The firm's records
showed a book balance of $69,451 on March 31. The difference between the two balances was caused by the following items.
1. A debit memorandum for $44, which covers the bank's collection fee for the note.
2. A deposit in transit of $3,400.
3. A check for $242 issued by another firm that was mistakenly charged to Di Stefano's account.
4. A debit memorandum for an NSF check of $6,105 issued by Wozniak Construction Company, a credit customer.
5. Outstanding checks: Check 3782 for $1,900; Check 3840 for $145.
6. A credit memorandum for a $6,000 noninterest-bearing note receivable that the bank collected for the firm.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4f5d07f8-dbc8-42c0-aecb-dd138ce6111c%2F97a5ae9f-5fd6-4abe-ba40-506b2e2b7b93%2F7y44s3_processed.png&w=3840&q=75)
Transcribed Image Text:Exercise 9.7 Preparing a bank reconciliation statement. LO 9-9
Di Stefano Office Supply Company received a bank statement showing a balance of $67,705 as of March 31, 2019. The firm's records
showed a book balance of $69,451 on March 31. The difference between the two balances was caused by the following items.
1. A debit memorandum for $44, which covers the bank's collection fee for the note.
2. A deposit in transit of $3,400.
3. A check for $242 issued by another firm that was mistakenly charged to Di Stefano's account.
4. A debit memorandum for an NSF check of $6,105 issued by Wozniak Construction Company, a credit customer.
5. Outstanding checks: Check 3782 for $1,900; Check 3840 for $145.
6. A credit memorandum for a $6,000 noninterest-bearing note receivable that the bank collected for the firm.
![Prepare a bank reconciliation statement for the firm as of March 31.
DI STEFANO OFFICE SUPPLY COMPANY
Bank Reconciliation Statement
March 31, 2019
Balance on bank statement
Additions:
Total Deductions:
Total outstanding checks
Adjusted bank balance
Balance in books
Additions:
Deductions:
Adjusted book balance
Prepare the necessary journal entries for March 31, 2019 from the statement. (If no entry is required for a particular transactic
"No journal entry required" in the first account field.)
View transaction list
Journal entry worksheet
<
1
2
Date
Mar 31, 2019
3
Record the bank collection fee.
Note: Enter debits before credits.
Record entry
4
5
General Journal
Clear entry
6
Debit
Credit
View general journal
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4f5d07f8-dbc8-42c0-aecb-dd138ce6111c%2F97a5ae9f-5fd6-4abe-ba40-506b2e2b7b93%2F3qcgdjn_processed.png&w=3840&q=75)
Transcribed Image Text:Prepare a bank reconciliation statement for the firm as of March 31.
DI STEFANO OFFICE SUPPLY COMPANY
Bank Reconciliation Statement
March 31, 2019
Balance on bank statement
Additions:
Total Deductions:
Total outstanding checks
Adjusted bank balance
Balance in books
Additions:
Deductions:
Adjusted book balance
Prepare the necessary journal entries for March 31, 2019 from the statement. (If no entry is required for a particular transactic
"No journal entry required" in the first account field.)
View transaction list
Journal entry worksheet
<
1
2
Date
Mar 31, 2019
3
Record the bank collection fee.
Note: Enter debits before credits.
Record entry
4
5
General Journal
Clear entry
6
Debit
Credit
View general journal
>
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