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Prepare bank reconciliation for Success Systems

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Question - Kay Breeze receives the March bank statement for success systems on April 11, 2005. The March 31 bank statement shows and ending cash balance of $77,354. A comparison of the bank statement with the general ledger Cash account, No. 101, reveals the following:

a) Breeze notices that the bank erroneously cleared a $500 check against her account that she did not issue. The check documentation included with the bank statement shows that this check was actually issued by a company named Sierra Systems.

b) On March 25, the bank issues a $50 debit memorandum for the safety deposit box that Success Systems agreed to rent from the bank beginning March 25.

c) On March 26, the bank issues a $102 debit memorandum for printed checks that Success Systems ordered from the bank.

d) On March 31, the bank issues a credit memorandum for $33 interest-earned on Success Systems checking account for the month of March.

e) Breeze notices that the check she issued for $128 on March 31, 2005, has not yet cleared the bank. Breeze verifies that all deposits made in March appear on the March bank statement.

F) The general ledger Cash account, No. 101, shows an ending cash balance per books as $77,845 (prior to any reconciliation).

Required - Prepare bank reconciliation for Success Systems for the month ended March 31, 2005?

Reference no: EM132610260

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