Prepare a bank reconciliation for Jamboree Enterprises for the month ended November 30. The following information is available as of November 30. a. On November 30, the company’s book balance of cash is $16,380, but its bank statement shows a $38,520 balance. b. Checks No. 2024 for $4,810 and No. 2026 for $5,000 are outstanding. c. In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that Check No. 2025 in payment of rent is correctly drawn (taken from the bank) for $1,000 but is erroneously entered in the accounting records as $880. d. The November 30 deposit of $17,150 was placed in the night depository after banking hours on that date, and this amount does not appear on the bank statement. e. In reviewing the bank statement, a check written by Jumbo Enterprises in the amount of $160 was erroneously drawn against Jamboree’s account. f. The bank statement says that the bank collected a $30,000 note and $900 of interest was earned. These transactions were not recorded by Jamboree prior to receiving the statement. g. The bank statement lists a $1,100 NSF check received from a customer, Marilyn Welch. Jamboree had not recorded the return of this check before receiving the statement. h. Bank service charges for November total $40. These charges were not recorded by Jamboree before receiving the statement.
Prepare a bank reconciliation for Jamboree Enterprises for the month ended November 30. The following
information is available as of November 30.
a. On November 30, the company’s book balance of cash is $16,380, but its bank statement shows a
$38,520 balance.
b. Checks No. 2024 for $4,810 and No. 2026 for $5,000 are outstanding.
c. In comparing the canceled checks on the bank statement with the entries in the accounting records, it
is found that Check No. 2025 in payment of rent is correctly drawn (taken from the bank) for $1,000
but is erroneously entered in the accounting records as $880.
d. The November 30 deposit of $17,150 was placed in the night depository after banking hours on that
date, and this amount does not appear on the bank statement.
e. In reviewing the bank statement, a check written by Jumbo Enterprises in the amount of $160 was
erroneously drawn against Jamboree’s account.
f. The bank statement says that the bank collected a $30,000 note and $900 of interest was earned. These
transactions were not recorded by Jamboree prior to receiving the statement.
g. The bank statement lists a $1,100 NSF check received from a customer, Marilyn Welch. Jamboree had
not recorded the return of this check before receiving the statement.
h. Bank service charges for November total $40. These charges were not recorded by Jamboree before
receiving the statement.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
