On June 30, Marigold Corporation showed a cash balance on their books of $9,426. The bank statement from the company's bank showed a month end balance of $12,254. On reviewing the bank statement, the following items were discovered:
1.
A deposit made on June 29 for $1,400 did not appear on the bank statement.
2.
Cheques written in the month of June but that did not appear on the bank statement were as follows:
Cheque # 159
$1,130
Cheque # 160
23
Cheque # 168
178
Cheque # 170
260
Cheque # 171
970
3.
The bank credited Marigold's account for $280 on June 19. This deposit did not belong to Marigold, but belonged to another company and was posted in error.
4.
The bank statement showed receipt of a wire transfer of $1,840 in payment of a note receivable, as well as $100 interest.
5.
According to the bank statement, $23 was deducted from Marigold's account for service charges.
6.
The bank cleared cheque # 152 for $810; however, the cheque was recorded in Marigold's records at $790. Research showed the bank was correct, and the cheque was recorded incorrectly in Marigold's books. The cheque was written in payment of advertising.
7.
A cheque for $510 from one of Marigold's customers was rejected by the bank due to insufficient funds (NSF).
