Use the following information to prepare a bank reconciliation for Young Company at June 30: Balance per Cash account, June 30, $7, 039.80. Balance per bank statement, June 30, $ 7, 300.25 Deposits not reflected on bank statement. $950. Outstanding checks, June 30, $1, 260.45 Service charge on bank statement not recorded in books, $35. Error by bank- Yertel Company check charged on Young Company’s bank statement, $375. Check for advertising expense, $260, incorrectly recorded in books as $620.

College Accounting (Book Only): A Career Approach
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ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
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E7-3A Bank reconciliation

Use the following information to prepare a bank reconciliation for Young Company at June 30:

  1. Balance per Cash account, June 30, $7, 039.80.
  2. Balance per bank statement, June 30, $ 7, 300.25
  3. Deposits not reflected on bank statement. $950.
  4. Outstanding checks, June 30, $1, 260.45
  5. Service charge on bank statement not recorded in books, $35.
  6. Error by bank- Yertel Company check charged on Young Company’s bank statement, $375.
  7. Check for advertising expense, $260, incorrectly recorded in books as $620.
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