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Prepare a bank reconciliation for the company

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Problem - Wright Company deposits all cash receipts on the day when -they are received and it makes all cash payments by check. At the close of business on May 31, 2013, its Cash account shows a $27,500 debit balance. The company May's bank statement shows $25,800 on deposit in the bank.

a) The May 31 bank statement included a $100 debit memorandum for bank services; the company has not yet recorded the cost of these services.

b) Outstanding checks as of May 31 total $5,600.

c) May 31 cash receipts of $6,200 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement.

d) In reviewing the bank statement, a $400 check written by Smith Company was mistakenly drawn against Wright's account.

e) A debit Memorandum for $600 refers to a $600 NSF check from a customer; the company has not yet recorded this NSF check.

Prepare a bank reconciliation for the company using the above information.

Reference no: EM132056602

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