Bank Reconciliation and Adjusting Entries (Appendix 6.1) Instructions Chart of Accounts Labels and Amount Descriptions Bank Reconciliation General Journal X Instructions Odum Corporation’s cash account showed a balance of $17,200 on March 31, 2019. The bank statement balance for the same date indicated a balance of $17,916.55. The following additional information is available concerning Odum’s cash balance on March 31: • Undeposited cash on hand on March 31 amounted to $724.50. • A customer’s NSF check for $180.80 was returned with the bank statement. • A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement. • The bank service charge for March was $15. • A deposit of $950.75 mailed to the bank on March 31 did not appear on the bank statement. The following checks mailed to creditors had not been processed by the bank on March 31: Check # Amount 429 $57.40 432 147.50 433 210.80 434 191.90 A customer check for $149.50 in payment of his account and listed correctly for that amount on the bank statement had been incorrectly recorded on the accounting records as $194.50. Required: 1. Prepare a bank reconciliation for Odum on March 31, 2019. 2. Prepare any adjusting journal entries necessary from the bank reconciliation on March 31. X Bank Reconciliation Prepare a bank reconciliation for Odum on March 31, 2019. Bank Reconciliation Instructions Odum Corporation Bank Reconciliation March 31, 2019 1 Balance from bank statement 2 Add: 3 4 5 6 7 Deduct: 8 9 10 11 12 13 14 Adjusted cash balance 15 16 Balance from company records 17 Add: 18 19 20 21 22 Deduct: 23 24 25 26 27 Adjusted cash balance
Bank Reconciliation and Adjusting Entries (Appendix 6.1) Instructions Chart of Accounts Labels and Amount Descriptions Bank Reconciliation General Journal X Instructions Odum Corporation’s cash account showed a balance of $17,200 on March 31, 2019. The bank statement balance for the same date indicated a balance of $17,916.55. The following additional information is available concerning Odum’s cash balance on March 31: • Undeposited cash on hand on March 31 amounted to $724.50. • A customer’s NSF check for $180.80 was returned with the bank statement. • A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement. • The bank service charge for March was $15. • A deposit of $950.75 mailed to the bank on March 31 did not appear on the bank statement. The following checks mailed to creditors had not been processed by the bank on March 31: Check # Amount 429 $57.40 432 147.50 433 210.80 434 191.90 A customer check for $149.50 in payment of his account and listed correctly for that amount on the bank statement had been incorrectly recorded on the accounting records as $194.50. Required: 1. Prepare a bank reconciliation for Odum on March 31, 2019. 2. Prepare any adjusting journal entries necessary from the bank reconciliation on March 31. X Bank Reconciliation Prepare a bank reconciliation for Odum on March 31, 2019. Bank Reconciliation Instructions Odum Corporation Bank Reconciliation March 31, 2019 1 Balance from bank statement 2 Add: 3 4 5 6 7 Deduct: 8 9 10 11 12 13 14 Adjusted cash balance 15 16 Balance from company records 17 Add: 18 19 20 21 22 Deduct: 23 24 25 26 27 Adjusted cash balance
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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Question
Bank Reconciliation and Adjusting Entries (Appendix 6.1)
Instructions
Chart of Accounts
Labels and Amount Descriptions
Bank Reconciliation
General Journal
X
Instructions
Odum Corporation’s cash account showed a balance of $17,200 on March 31, 2019. The bank statement balance for the same date indicated a balance of $17,916.55. The following additional information is available concerning Odum’s cash balance on March 31:
• | Undeposited cash on hand on March 31 amounted to $724.50. |
• | A customer’s NSF check for $180.80 was returned with the bank statement. |
• | A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement. |
• | The bank service charge for March was $15. |
• | A deposit of $950.75 mailed to the bank on March 31 did not appear on the bank statement. |
The following checks mailed to creditors had not been processed by the bank on March 31:
Check # | Amount |
429 | $57.40 |
432 | 147.50 |
433 | 210.80 |
434 | 191.90 |
A customer check for $149.50 in payment of his account and listed correctly for that amount on the bank statement had been incorrectly recorded on the accounting records as $194.50.
Required: | |
1. | Prepare a bank reconciliation for Odum on March 31, 2019. |
2. | Prepare any adjusting |
X
Bank Reconciliation
Prepare a bank reconciliation for Odum on March 31, 2019.
Bank Reconciliation Instructions
Odum Corporation
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Bank Reconciliation
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March 31, 2019
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1
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Balance from bank statement
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2
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Add:
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3
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4
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5
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6
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7
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Deduct:
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8
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9
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10
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11
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12
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13
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14
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Adjusted cash balance
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15
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16
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Balance from company records
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17
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Add:
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18
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19
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20
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21
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Deduct:
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23
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24
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25
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26
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27
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Adjusted cash balance
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