Requirement 1. Prepare the bank reconciliation of Donald Insurance at December 31, 2018. Prepare the bank portion of the reconciliation, followed by the book portion of the reconciliation. Donald Insurance Bank Reconciliation December 31, 2018 Bank: Balance, December 31, 2018 19,705 ADD: Deposit in transit 1,800 21,505 LESS: Outstanding checks 1420 1,480 1421 900 610 2,990 1422 $ 18,515 Adjusted bank balance, December 31, 2018 Books: Balance, December 31, 2018 ADD: EFT collection of rent 100 Bank collection of note receivable 1,300 1,400 LESS: NSF check 200 EFT payment of insurance 700 Service charge 35 Correction of book error Adjusted book balance, December 31, 2018 х Data Table Data Table Bank Statement for December Cash Receipts Cash Payments Beginning Balance 14,400 Date Cash Debit Check No. Cash Credit Deposits and other Credits: Dec. 4 $ 4,260 1416 $4 790 Dec. EFT $ 100 480 1417 150 Dec. 4,260 14 540 1418 640 Dec. 10 480 17 2,000 1419 680 Dec. 15 540 31 1,800 1420 1,480 Dec. 18 2,000 1421 900 1,300 1422 610 Dec. 22 BC 8,680 Checks and other Debits: Dec. NSF 200 Print Done Dec. 11 (check no. 1416) 790 Dec. 19 EFT 700 Dec. 22 (check no. 1417) 150 Dec. 29 (check no. 1418) 640 Dec. 31 (check no. 1419) 860 35 (3,375) Dec. 31 SC 2$ 19,705 Ending Balance Explanations: BC-bank collection; EFT-electronic funds transfer, NSF-nonsufficient funds checks; SC-service charge

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter7: Internal Control And Cash

Section: Chapter Questions

Problem 21E

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Prepare the bank reconciliation of Donald Insurance at Dec 31, 2018. Fill in the blanks on the reconciliation in the picture. All information that has been provided to me for this problem is also in the picture. Please actually cite the image this time. Last time I got the following:

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Requirement 1. Prepare the bank reconciliation of Donald Insurance at December 31, 2018.
Prepare the bank portion of the reconciliation, followed by the book portion of the reconciliation.
Donald Insurance
Bank Reconciliation
December 31, 2018
Bank:
Balance, December 31, 2018
19,705
ADD:
Deposit in transit
1,800
21,505
LESS: Outstanding checks
1420
1,480
1421
900
610
2,990
1422
$ 18,515
Adjusted bank balance, December 31, 2018
Books:
Balance, December 31, 2018
ADD:
EFT collection of rent
100
Bank collection of note receivable
1,300
1,400
LESS:
NSF check
200
EFT payment of insurance
700
Service charge
35
Correction of book error
Adjusted book balance, December 31, 2018
х
Data Table
Data Table
Bank Statement for December
Cash Receipts
Cash Payments
Beginning Balance
14,400
Date
Cash Debit
Check No.
Cash Credit
Deposits and other Credits:
Dec. 4 $
4,260
1416
$4
790
Dec.
EFT $
100
480
1417
150
Dec.
4,260
14
540
1418
640
Dec.
10
480
17
2,000
1419
680
Dec.
15
540
31
1,800
1420
1,480
Dec.
18
2,000
1421
900
1,300
1422
610
Dec.
22
BC
8,680
Checks and other Debits:
Dec.
NSF
200
Print
Done
Dec.
11 (check no. 1416)
790
Dec.
19
EFT
700
Dec.
22 (check no. 1417)
150
Dec.
29 (check no. 1418)
640
Dec.
31 (check no. 1419)
860
35
(3,375)
Dec.
31
SC
2$
19,705
Ending Balance
Explanations: BC-bank collection; EFT-electronic funds transfer,
NSF-nonsufficient funds checks; SC-service charge

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