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Required information [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, “I don't have time." You have been asked to prepare a reconiliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance Balance, April 1, current Year Deposits during April Interest collected $32,100 69,800 71,050 25,850 25,510 25,410 25,410 $37,700 1,250 Checks cleared during April Nsf check-A. B. Wright Bank service charges Balance, April 30, Current Year $45,200 340 100 Cash (A) 41,400 Apr. 1 Balance Apr. Deposits 23,600 |Apr. Checks written 41,800 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,700 (including $2,820 written before and $1,880 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. Reguirod:

Required information [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, “I don't have time." You have been asked to prepare a reconiliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance Balance, April 1, current Year Deposits during April Interest collected $32,100 69,800 71,050 25,850 25,510 25,410 25,410 $37,700 1,250 Checks cleared during April Nsf check-A. B. Wright Bank service charges Balance, April 30, Current Year $45,200 340 100 Cash (A) 41,400 Apr. 1 Balance Apr. Deposits 23,600 |Apr. Checks written 41,800 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,700 (including $2,820 written before and $1,880 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. Reguirod:

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.1AP
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Required information [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance Balance, April 1, Current Year Deposits during April Interest collected $32,100 69,800 71,050 25,850 25,510 25,410 25,410 $37,700 1,250 Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year $45,200 340 100 Cash (A) Apr. Checks written Apr. 1 Apr. Deposits Balance 23,600 41,800 41,400 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,700 (including $2,820 written before and $1,880 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. Required: 1. Prepare a detailed bank reconciliation for April. JEFFERSON COMPANY Bank Reconciliation, April 30, Current Year Company's Books Bank Statement Ending balance per cash account Ending balance per bank statement Additions: Additions: Deductions: Deductions: Correct cash balance Correct cash balance
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance Balance, April 1, Current Year Deposits during April Interest collected $32,100 69,800 71,050 25,850 25,510 25,410 25,410 $37,700 1,250 Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year $45,200 340 100 Cash (A) Apr. Checks written Apr. 1 Apr. Deposits Balance 23,600 41,800 41,400 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,700 (including $2,820 written before and $1,880 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. Required: 1. Prepare a detailed bank reconciliation for April. JEFFERSON COMPANY Bank Reconciliation, April 30, Current Year Company's Books Bank Statement Ending balance per cash account Ending balance per bank statement Additions: Additions: Deductions: Deductions: Correct cash balance Correct cash balance
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