Question

Bank Reconciliation: Example Problem H & R Dud Company Bank Reconciliation Statement Cash Ledger Account Bank Checking Account Balance per books $18,671 Balance per bank $17,959 Add: Add: No 2. DIT 2,500 $ Subtotal $ Subtotal $ Deduct: Deduct: $ No 1. ch# 110 Ch# 115 <145> <195> $ Updated balance per books $ Updated balance 21,079 21,079 per bank 1. Checks outstanding were as follows: No. 110, $145; No. 115, $195; 2. No. 116, $400 (certified) -> Do nothing. A deposit of $2,500 made the last day of the month does not appear in the bank statement. A check for $960 had been erroneously charged to our account by the bank. Check No. 112 for $570 was erroneously recoded on the books as $750. It was for Rent Expense. The following items were returned with the bank statement: A NSF check from a customer for $502. A debit memo for the month's service charge of $50. A credit memo for $2,780 for a note receivable of $2,700 plus interest collected for us by the bank. [Direct Deposit] Journal entries on Books of H & R Dud Company DR: CR: DR: CR: DR: DR: CR: CR: 101

          Bank Reconciliation: Example Problem
H & R Dud Company
Bank Reconciliation Statement
Cash Ledger Account
Bank Checking Account
Balance per books
$18,671 Balance per bank
$17,959
Add:
Add:
No 2. DIT
2,500
$
Subtotal
$
Subtotal
$
Deduct:
Deduct:
$
No 1. ch# 110
Ch# 115
<145>
<195>
$
Updated balance
per books
$
Updated balance
21,079
21,079 per bank
1.
Checks outstanding were as follows: No. 110, $145; No. 115, $195;
2.
No. 116, $400 (certified) -> Do nothing.
A deposit of $2,500 made the last day of the month does not appear in the bank
statement.
A check for $960 had been erroneously charged to our account by the bank.
Check No. 112 for $570 was erroneously recoded on the books as $750. It was for Rent
Expense.
The following items were returned with the bank statement:
A NSF check from a customer for $502.
A debit memo for the month's service charge of $50.
A credit memo for $2,780 for a note receivable of $2,700 plus interest collected
for us by the bank. [Direct Deposit]
Journal entries on Books of H & R Dud Company
DR:
CR:
DR:
CR:
DR:
DR:
CR:
CR:
101

Bank Reconciliation: Example Problem
H R Dud Company
Bank Reconciliation Statement
Cash Ledger Account
Bank Checking Account
Balance per books
18,671 Balance per bank17,959
Add:
Add:
No 2. DIT
2,500
Subtotal
Subtotal
Deduct:
Deduct:
No 1. ch# 110
Ch# 115
<145>
<195>
Updated balance
per books
Updated balance
21,079
21,079 per bank
1.
Checks outstanding were as follows: No. 110, 145; No. 115,195;
2.
No. 116, 400 (certified) -> Do nothing.
A deposit of2,500 made the last day of the month does not appear in the bank
statement.
A check for 960 had been erroneously charged to our account by the bank.
Check No. 112 for570 was erroneously recoded on the books as 750. It was for Rent
Expense.
The following items were returned with the bank statement:
A NSF check from a customer for502.
A debit memo for the month's service charge of 50.
A credit memo for2,780 for a note receivable of 2,700 plus interest collected
for us by the bank. [Direct Deposit]
Journal entries on Books of H R Dud Company
DR:
CR:
DR:
CR:
DR:
DR:
CR:
CR:
101

Added by Jose Ramon A.

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