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On March 31, 20X1, Home Decorating Pavilion received a bank statement showing a balance of $9,650. The balance in the firm's checkbook and Cash account on the same date was $10,130. The difference between the two balances is caused by the items listed below. a. A $2,775 deposit made on March 30 does not appear on the bank statement. b. Check 358 for $435 issued on March 29 and Check 359 for $1,550 issued on March 30 have not yet been paid by the bank. C. A credit memorandum shows that the bank has collected a $1,100 note receivable and interest of $110 for the firm. d. A service charge of $15 appears on the bank statement. e. A debit memorandum shows an NSF check for $475. (The check was issued by Dane Jaris, a credit customer.) f. The firm's records indicate that Check 341 of March 1 was issued for $700 to pay the month's rent. However, the canceled check and the listing on the bank statement show that the actual amount of the check was $600. g. The bank made an error by deducting a check for $510 issued by another business from the balance of Home Decorating Pavilion's account. Required: 1. Prepare a bank reconciliation statement for the firm as of March 31, 20X1. 2. Record entries for any items on the bank reconciliation statement that must be journalized. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation statement for the firm as of March 31, 20X1. (Enter all amounts. as positive values.) HOME DECORATING PAVILION Bank Reconciliation Statement March 31, 20X1

On March 31, 20X1, Home Decorating Pavilion received a bank statement showing a balance of $9,650. The balance in the firm's checkbook and Cash account on the same date was $10,130. The difference between the two balances is caused by the items listed below. a. A $2,775 deposit made on March 30 does not appear on the bank statement. b. Check 358 for $435 issued on March 29 and Check 359 for $1,550 issued on March 30 have not yet been paid by the bank. C. A credit memorandum shows that the bank has collected a $1,100 note receivable and interest of $110 for the firm. d. A service charge of $15 appears on the bank statement. e. A debit memorandum shows an NSF check for $475. (The check was issued by Dane Jaris, a credit customer.) f. The firm's records indicate that Check 341 of March 1 was issued for $700 to pay the month's rent. However, the canceled check and the listing on the bank statement show that the actual amount of the check was $600. g. The bank made an error by deducting a check for $510 issued by another business from the balance of Home Decorating Pavilion's account. Required: 1. Prepare a bank reconciliation statement for the firm as of March 31, 20X1. 2. Record entries for any items on the bank reconciliation statement that must be journalized. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation statement for the firm as of March 31, 20X1. (Enter all amounts. as positive values.) HOME DECORATING PAVILION Bank Reconciliation Statement March 31, 20X1

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
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On March 31, 20X1, Home Decorating Pavilion received a bank statement showing a balance of $9,650. The balance in the firm's checkbook and Cash account on the same date was $10,130. The difference between the two balances is caused by the items listed below. a. A $2,775 deposit made on March 30 does not appear on the bank statement. b. Check 358 for $435 issued on March 29 and Check 359 for $1,550 issued on March 30 have not yet been paid by the bank. c. A credit memorandum shows that the bank has collected a $1,100 note receivable and interest of $110 for the firm. d. A service charge of $15 appears on the bank statement. e. A debit memorandum shows an NSF check for $475. (The check was issued by Dane Jaris, a credit customer.) f. The firm's records indicate that Check 341 of March 1 was issued for $700 to pay the month's rent. However, the canceled check and the listing on the bank statement show that the actual amount of the check was $600. g. The bank made an error by deducting a check for $510 issued by another business from the balance of Home Decorating Pavilion's account. Required: 1. Prepare a bank reconciliation statement for the firm as of March 31, 20X1. 2. Record entries for any items on the bank reconciliation statement that must be journalized. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation statement for the firm as of March 31, 20X1. (Enter all amounts. as positive values.) HOME DECORATING PAVILION Bank Reconciliation Statement March 31, 20X1 < Prev 30 of 39 Next > MAY 7 國一 Cm Colle 18 W
Transcribed Image Text:On March 31, 20X1, Home Decorating Pavilion received a bank statement showing a balance of $9,650. The balance in the firm's checkbook and Cash account on the same date was $10,130. The difference between the two balances is caused by the items listed below. a. A $2,775 deposit made on March 30 does not appear on the bank statement. b. Check 358 for $435 issued on March 29 and Check 359 for $1,550 issued on March 30 have not yet been paid by the bank. c. A credit memorandum shows that the bank has collected a $1,100 note receivable and interest of $110 for the firm. d. A service charge of $15 appears on the bank statement. e. A debit memorandum shows an NSF check for $475. (The check was issued by Dane Jaris, a credit customer.) f. The firm's records indicate that Check 341 of March 1 was issued for $700 to pay the month's rent. However, the canceled check and the listing on the bank statement show that the actual amount of the check was $600. g. The bank made an error by deducting a check for $510 issued by another business from the balance of Home Decorating Pavilion's account. Required: 1. Prepare a bank reconciliation statement for the firm as of March 31, 20X1. 2. Record entries for any items on the bank reconciliation statement that must be journalized. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation statement for the firm as of March 31, 20X1. (Enter all amounts. as positive values.) HOME DECORATING PAVILION Bank Reconciliation Statement March 31, 20X1 < Prev 30 of 39 Next > MAY 7 國一 Cm Colle 18 W
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