fter reviewing ATG Company Ltd.’s bankstatement for the month of September2022, the company accountant noted the following:Deposits in transitA deposit of $550.00 was made to the bank account on September 29th but is not yet reflected on the bank statement. Outstanding chequesThree outstanding cheques (cheque #134, $45.45; cheque #135, $440.05 and cheque #136, $121.12) were recorded in the company's accounting records but not yet shown on the bank statement.Bank errorsA bank charge of $50.00 is shown on the bank statement for a new cheque printing order.The company has not ordered new cheques and is planning tohave this charge removed. EFT receiptsUnrecorded electronic receipts were identified on the bank statement.These were for $500.00 on September 2 and $120.00 on September 22. InterestInterest charges of $57.00 were shown on the bank statement. EFT paymentsUnrecorded electronic payments are shown onthe bank statement.These included:$69.56 paid to the cable company for internet service on September 5th and $120.45 paid to the local office supply store on September 12th. NSF chequesA returned cheque plus NSF fee was shown on the bank statement (Cheque date September 19th, $560.00 plus $50.00 NSF fee).Service feesService fees shown on the bank statement but not recorded in the company accounts totalled $125.00.Company errorsThe bank statement shows a payment on September 9th for utilities of $165.85.The company books show $156.85.After investigation, $165.85 is determined as the correct payment. Note: the cash balance on the bank statement is showing $7,754.48
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After reviewing ATG Company Ltd.’s bankstatement for the month of September2022, the company accountant noted the following:Deposits in transitA deposit of $550.00 was made to the bank account on September 29th but is not yet reflected on the bank statement. Outstanding chequesThree outstanding cheques (cheque #134, $45.45; cheque #135, $440.05 and cheque #136, $121.12) were recorded in the company's accounting records but not yet shown on the bank statement.Bank errorsA bank charge of $50.00 is shown on the bank statement for a new cheque printing order.The company has not ordered new cheques and is planning tohave this charge removed. EFT receiptsUnrecorded electronic receipts were identified on the bank statement.These were for $500.00 on September 2 and $120.00 on September 22. InterestInterest charges of $57.00 were shown on the bank statement. EFT paymentsUnrecorded electronic payments are shown onthe bank statement.These included:$69.56 paid to the cable company for internet service on September 5th and $120.45 paid to the local office supply store on September 12th. NSF chequesA returned cheque plus NSF fee was shown on the bank statement (Cheque date September 19th, $560.00 plus $50.00 NSF fee).Service feesService fees shown on the bank statement but not recorded in the company accounts totalled $125.00.Company errorsThe bank statement shows a payment on September 9th for utilities of $165.85.The company books show $156.85.After investigation, $165.85 is determined as the correct payment. Note: the cash balance on the bank statement is showing $7,754.48.Instructions Prepare the BankReconciliationfor ATG Company for the month of September.
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