Question

Aaron Rodgers is the owner of the Kwik Trip location on Lombardi Ave. in Green Bay. Kwik Trip deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the end of June 30, 2021, its Cash account shows a \$13,418 balance. Kwik Trip's June 30 bank statement from Associated Bank lists a \$13,897 balance. a. Outstanding checks as of June 30 total \$2,616. b. The June 30 bank statement included a \$45 debit memorandum for bank services. c. Check No. 919, listed with the canceled checks, was correctly drawn for \$289 in payment of a utility bill on June 15. Kwik Trip mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of \$298. d. The June 30 cash receipts of \$2,101 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare a bank reconciliation for Kwik Trip using the above information: Bank statement balance Add: Deposit of June 30 Bank service charge Deduct: KWIK TRIP Bank Reconciliation June 30, 2021 Book balance Add: 0 0 Deduct: 0 0 0 0 Adjusted bank balance $\qquad 0 Adjusted book balance $\qquad 0

          Aaron Rodgers is the owner of the Kwik Trip location on Lombardi Ave. in Green
Bay. Kwik Trip deposits all cash receipts on the day when they are received and it makes
all cash payments by check. At the end of June 30, 2021, its Cash account shows a
\$13,418 balance. Kwik Trip's June 30 bank statement from Associated Bank lists
a \$13,897 balance.
a. Outstanding checks as of June 30 total \$2,616.
b. The June 30 bank statement included a \$45 debit memorandum for bank services.
c. Check No. 919, listed with the canceled checks, was correctly drawn for \$289 in
payment of a utility bill on June 15. Kwik Trip mistakenly recorded it with a debit to
Utilities Expense and a credit to Cash in the amount of \$298.
d. The June 30 cash receipts of \$2,101 were placed in the bank's night depository after
banking hours and were not recorded on the June 30 bank statement.
Prepare a bank reconciliation for Kwik Trip using the above information:
Bank statement balance
Add:
Deposit of June 30
Bank service charge
Deduct:
KWIK TRIP
Bank Reconciliation
June 30, 2021
Book balance
Add:
0
0
Deduct:
0
0
0
0
Adjusted bank balance
$\qquad 0 Adjusted book balance
$\qquad 0

Aaron Rodgers is the owner of the Kwik Trip location on Lombardi Ave. in Green
Bay. Kwik Trip deposits all cash receipts on the day when they are received and it makes
all cash payments by check. At the end of June 30, 2021, its Cash account shows a
$13,418 balance. Kwik Trip's June 30 bank statement from Associated Bank lists
a $13,897 balance.
a. Outstanding checks as of June 30 total $2,616.
b. The June 30 bank statement included a $45 debit memorandum for bank services.
c. Check No. 919, listed with the canceled checks, was correctly drawn for $289 in
payment of a utility bill on June 15. Kwik Trip mistakenly recorded it with a debit to
Utilities Expense and a credit to Cash in the amount of $298.
d. The June 30 cash receipts of $2,101 were placed in the bank's night depository after
banking hours and were not recorded on the June 30 bank statement.
Prepare a bank reconciliation for Kwik Trip using the above information:
Bank statement balance
Add:
Deposit of June 30
Bank service charge
Deduct:
KWIK TRIP
Bank Reconciliation
June 30, 2021
Book balance
Add:
0
0
Deduct:
0
0
0
0
Adjusted bank balance
0 Adjusted book balance 0

Added by Isabel F.

Question

Please give Ace some feedback