A140/ACG1022 Section 14 Financial Accounting I – Winter 2013 Module 10

assignment_mod_10.xlsx

Module 10 Accounting Assignment – The Bank Reconciliation

 

Review the transactions and financial position of Gooseberry Inc. for May 31 in the 

Excel Template

.

Requirements:

1. Prepare the bank reconciliation.
2. Prepare the journal entries.

Submit your completed assignment to the drop box below. Please check the Course Calendar
 for specific due dates.

2

>M

1

0

Assignment

Inc. had a cash balance on the books of $6171 on May

. Cash records for May show the following:

s/
Deposits

s/
Payments

44

67

5

10

896

367

31

15

8

EFT

22

775

88

31

31 25

1

Gooseberry
2

Debit Credit

																																																																																																																																																			Module 10 Assignment:
	Gooseberry			31
	Debit		Credit
2716		8
	5		775
	896		88
	367	126
2037	970
200
	22
Gooseberry Inc. received the following bank Statement for May:
Bank Statement for May
Beginning Balance
Deposits and other additions:	$4,045
May 1	6	25		EFT
2,716
544
	15
18
1,000	BC	$6,148
Checks and other deductions:
May 8	441	NSF
(check number 1416)
19	340
(check number 1417)
29	(check number 1418)
(check number 1419)	216
SC	-$1,893
$8,300
Additional Data:
The EFT deposti was a receipt of rent revenue. The EFT debit was payment of insurance expense.
The NSF check was received from a customer
The $1000 bank collection was for a note receivable
The correct amount of check 1419 is $216. Gooseberry Inc. mistakingly recorded the check for $126
Requirements:
Prepare the bank reconciliation.
Bank Reconciliation
May 31, 20##
Prepare the journal entries.
Journal
Date	Accounts	Post. Ref