Enclosed with the bank statement was a debit memorandum for

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Reference no: EM13485303

Preparing a bank reconciliation statement and journalizing entries to adjust the cash balance.

On October 5, Sam Yao, Attorney at Law, received his September bank statement from First Security National Bank. Enclosed with the bank statement was a debit memorandum for $112 that covered an NSF check issued by Julia Anderson, a credit customer. The firm's checkbook contained the following information about deposits made and checks issued during September. The balance of the Cash account and the checkbooks on September 30 was $16,622.

Date	Transactions
Sept. 1	Balance	$13,000
1	Check 124	200
3	Check 125	20
3	Deposit	1,000
6	Check 126	450
10	Deposit	820
11	Check 127	400
15	Check 128	150
21	Check 129	120
22	Deposit	1,460
25	Check 130	8
25	Check 131	40
27	Check 132	70
28	Deposit	1,800

FIRST SECURITY NATIONAL BANK
Sam Yao, Attorney-at-Law 2222 Sam Houston Lane Columbus, OH 44106				Account No. 11-4568.03 Period Ending Sept. 30
Checks		Deposits		Date	Balance
Beginning Balance				August 31	13,000.00
			1,000.00+	September 3	14,000.00
200.00-				September 6	13,800.00
400.00-	20.00-		820.00+	September 11	14,200.00
450.00-				September 15	13,750.00
120.00-				September 19	13,630.00
			1,460.00+	September 23	15,090.00
40.00-	8.00-			September 25	15,042.00
7.50- SC	112.00- DM			September 28	14,922.50

Instructions:

(a) Prepare a bank reconciliation statement for the firm as of September 30.

(b) Record general journal entries for any items on the bank reconciliation statement that must be journalized. Date the entries October 5.(c) Analyze: How many checks were paid (cleared the bank) according to the September 30 bank statement?

Reference no: EM13485303

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