Frederick Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2015, its Cash account shows a $13,509 debit balance. Frederick Clinic's June 30 bank statement shows $13,384 on deposit in the bank. a. Outstanding checks as at June 30 total $2,531. b. The June 30 bank statement included a $20 debit memorandum for bank services. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Frederick Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. d. The June 30 cash receipts of $2,645 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare a bank reconciliation for Frederick Clinic using the above information (Input all amounts as positive values. Omit the "$" sign in your response):
Frederick Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2015, its Cash account shows a $13,509 debit balance. Frederick Clinic's June 30 bank statement shows $13,384 on deposit in the bank. a. Outstanding checks as at June 30 total $2,531. b. The June 30 bank statement included a $20 debit memorandum for bank services. c. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Frederick Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. d. The June 30 cash receipts of $2,645 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare a bank reconciliation for Frederick Clinic using the above information (Input all amounts as positive values. Omit the "$" sign in your response):
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 1PA
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|
Frederick Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2015, its Cash account shows a $13,509 debit balance. Frederick Clinic's June 30 bank statement shows $13,384 on deposit in the bank. |
| a. | Outstanding checks as at June 30 total $2,531. |
| b. |
The June 30 bank statement included a $20 debit memorandum for bank services. |
| c. |
Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Frederick Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. |
| d. |
The June 30 cash receipts of $2,645 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. |
|
Prepare a bank reconciliation for Frederick Clinic using the above information (Input all amounts as positive values. Omit the "$" sign in your response): |
| FREDERICK CLINIC | ||||
| Bank Reconciliation | ||||
| June 30, 2015 | ||||
| (Click to select)Outstanding checksError on Ck. No. 919Deposit of June 30Bank service chargeBank statement balance | $ | (Click to select)Outstanding checksBook balanceError on Ck. No. 919Bank service chargeDeposit of June 30 | $ | |
| Add | Add | |||
| (Click to select)Book balanceBank statement balanceDeposit of June 30Outstanding checksBank service charge | (Click to select)Deposit of June 30Book balanceOutstanding checksBank service chargeError on Ck. No. 919 | |||
| Deduct | Deduct | |||
| (Click to select)Bank statement balanceBank service chargeOutstanding checksDeposit of June 30Book balance | (Click to select)Book balanceDeposit of June 30Bank service chargeOutstanding checksError on Ck. No. 919 | |||
| Adjusted bank balance | $ |
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