Computation of bank reconciliation statements

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Reference no: EM1315201

Computation of Bank reconciliation Statements.

The Jamison Cardstock Company did not spend a lot of time or money instituting proper internal controls over its cash transactions. The following information reflects Jamison's cash position as of June 30:

a. The cash recorded on Jamison's accounting records revealed a balance of $18,901.62 that also included undeposited cash receipts.

b. A credit of $100 on the bank statement was not recorded in the company's accounting records.

c. The balance on the bank statement was $15,550.

d. Outstanding Checks:

Check Number	Amount
62	$116.25
183	$150.00
284	$253.25
8621	$190.71.
8623	$206.80
8632	$145.28

The company cashier embezzled all undeposited cash receipts in excess of the $3,794.41 listed on the bank reconciliation that she prepared, as shown next.

Balance, per books, June 30	$18,901.62
Add:	Outstanding Checks:
	NO. 8621	$190.71
	NO. 8623	$206.80
	NO. 8632	$145.28	442.79
				$19,344.41
Subtract: Undeposited Receipts			3,794.41
Balance per bank, June 30		$15,550.00
Subtract: Unrecorded Credit		100.00
True Cash, June 30		$15,450.00

Required: Prepare a schedule showing how much the cashier embezzled.

Reference no: EM1315201

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