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Your accountant goes through the mail and opens the bank statement for the month of February provided by Wells Fargo Local Bank. It is shown below. Wells Fargo Local Bank Prepared for DITO Shoppee Withdrawal Deposit Information Opening Balance Chq#2315 Deposit Feb 14 Chq#2316 Deposit Feb 18 Chą#2317 Feb 19 Chq#10428 Feb 25 Petty Cash Chq#2318 Auto debit loan payment Date Balance 22,860.00 22,360.00 31,900.00 18,460.00 87,572.50 62,372.50 59,972.50 59,717.50 58,637.50 58,487.50 58,699.50 Feb 1 500.00 Feb 8 9,540.00 13,440.00 Feb 17 69,112.50 25,200.00| 2,400.00 255.00 Feb 28 1,080.00 Feb 28 Service Charge 150.00 Feb 28 Interest 212.00

Your accountant goes through the mail and opens the bank statement for the month of February provided by Wells Fargo Local Bank. It is shown below. Wells Fargo Local Bank Prepared for DITO Shoppee Withdrawal Deposit Information Opening Balance Chq#2315 Deposit Feb 14 Chq#2316 Deposit Feb 18 Chą#2317 Feb 19 Chq#10428 Feb 25 Petty Cash Chq#2318 Auto debit loan payment Date Balance 22,860.00 22,360.00 31,900.00 18,460.00 87,572.50 62,372.50 59,972.50 59,717.50 58,637.50 58,487.50 58,699.50 Feb 1 500.00 Feb 8 9,540.00 13,440.00 Feb 17 69,112.50 25,200.00| 2,400.00 255.00 Feb 28 1,080.00 Feb 28 Service Charge 150.00 Feb 28 Interest 212.00

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 3PB
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prepare a bank reconciliation report.

Your accountant goes through the mail and opens the bank statement for the month of February provided by Wells Fargo Local Bank. It is shown below. Wells Fargo Local Bank Prepared for DITO Shoppee Information withdrawal Deposit Balance Date Opening Balance 22,860.00 Feb 1 Chq#2315 500.00 22,360.00 Feb 8 Deposit 9,540.00 31,900.00 Feb 14 Chq#2316 13,440.00 18,460.00 Feb 17 Deposit 69,112.50 87,572.50 Feb 18 Chq#2317 25,200.00 62,372.50 Feb 19 Chq#10428 2,400.00 59,972.50 Feb 25 Petty Cash Chq#2318 Auto debit loan payment 255.00 59,717.50 Feb 28 1,080.00 58,637.50 Feb 28 Service Charge 58,487.50 150.00 Feb 28 Interest 212.00 58,699.50
Transcribed Image Text:Your accountant goes through the mail and opens the bank statement for the month of February provided by Wells Fargo Local Bank. It is shown below. Wells Fargo Local Bank Prepared for DITO Shoppee Information withdrawal Deposit Balance Date Opening Balance 22,860.00 Feb 1 Chq#2315 500.00 22,360.00 Feb 8 Deposit 9,540.00 31,900.00 Feb 14 Chq#2316 13,440.00 18,460.00 Feb 17 Deposit 69,112.50 87,572.50 Feb 18 Chq#2317 25,200.00 62,372.50 Feb 19 Chq#10428 2,400.00 59,972.50 Feb 25 Petty Cash Chq#2318 Auto debit loan payment 255.00 59,717.50 Feb 28 1,080.00 58,637.50 Feb 28 Service Charge 58,487.50 150.00 Feb 28 Interest 212.00 58,699.50
General Ledger Accounts Account: Cash GL No: 101 Date Description PR DR CR Balance (DR or CR) Opening Balance Paid Chq#2314 Paid Chq#2315 Paid Chq#2316 Received payment Paid inventory Chq#2317 GJ3 Received payment Petty Cash Chq#2318 Paid loan 32,400.00 DR 31,880.00 DR 500 Feb 1 GJ3 520.00 Feb 1 GJ3 31,380.00 DR 17,940.00 DR 87,052.50 DR Feb 13 GJ3 13,440.00 Feb 17 GJ3 69,112.50 61,852.50 DR 62,852.50 DR Feb 18 25,200.00 Feb 20 GJ3 1,000.00 62,597.50 DR 61,517.50 DR Feb 25 GJ3 255 Feb 28 GJ3 1,080.00 Additional Information: a) The $9,540 is already recorded in the ledger last month. b) Cheque number of the company has only three (4) digits. Required: Prepare the February bank reconciliation for DITO Shoppee using the bank statement and general ledger provided. Compare the information in the general ledger to the bank statement. Once reconciled, record the relevant journal entries in the general journal and post the entries in the general ledger to bring the company's record up to date.
Transcribed Image Text:General Ledger Accounts Account: Cash GL No: 101 Date Description PR DR CR Balance (DR or CR) Opening Balance Paid Chq#2314 Paid Chq#2315 Paid Chq#2316 Received payment Paid inventory Chq#2317 GJ3 Received payment Petty Cash Chq#2318 Paid loan 32,400.00 DR 31,880.00 DR 500 Feb 1 GJ3 520.00 Feb 1 GJ3 31,380.00 DR 17,940.00 DR 87,052.50 DR Feb 13 GJ3 13,440.00 Feb 17 GJ3 69,112.50 61,852.50 DR 62,852.50 DR Feb 18 25,200.00 Feb 20 GJ3 1,000.00 62,597.50 DR 61,517.50 DR Feb 25 GJ3 255 Feb 28 GJ3 1,080.00 Additional Information: a) The $9,540 is already recorded in the ledger last month. b) Cheque number of the company has only three (4) digits. Required: Prepare the February bank reconciliation for DITO Shoppee using the bank statement and general ledger provided. Compare the information in the general ledger to the bank statement. Once reconciled, record the relevant journal entries in the general journal and post the entries in the general ledger to bring the company's record up to date.
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