Reference no: EM132623575

Aspirations Pty Ltd is closing its books and must prepare a bank reconciliation for the following items:

1. Bank statement contains an ending balance of $300,000 on February 28, 2020, whereas the company's ledger shows an unadjusted ending balance of $260,900
2. Bank statement contains a $100 service charge for operating the account
3. Bank statement contains interest income of $20
4. Aspirations Pty Ltd issued cheques for $50,000 that have not yet been cleared by the bank 
5. On Friday 28 February, late in the evening, Aspirations Pty Ltd deposited $20,000 in cash and cheques via a night-safe drop but this did not appear on the bank statement
6. A cheque for the amount of $470 issued to the office supplier was misreported in the cash payments journal as $370.
7. A note receivable of $9,800 was collected by the bank.
8. A cheque of $520 deposited by the company bounced.

Question a: Calculate the final cash at bank balance in the company's ledger after examining the information above. Show your workings.

Question b: Do the Bank Reconciliation Statement for the month of February