Reference no: EM132595543
Question - The following data have been gathered for Reynolds Company to assist you in preparing the July 31, 2014, bank reconciliation:
a) The July 31 bank balance was $4,000.
b) The bank statement included $30 of service charges.
c) There was an EFT deposit of $900 on the bank statement for the monthly rent due from a tenant.
d) Cheques #541 and #543 for $205 and $320, respectively, were not among the cancelled cheques returned with the statement.
e) The July 31 deposit of $4,435 did not appear on the bank statement.
f) The bookkeeper had erroneously recorded a $500 cheque as $5,000. The cheque was written to a vendor to pay off an accounts payable.
g) Included with the cancelled cheques was a cheque written by another company for $200, which was deducted from Reynolds Company's account.
h) The bank statement included an NSF cheque written by Maxie Company for a $460 payment on account.
i) The cash account showed a balance of $3,200 on July 31.
Required - Prepare the July 31, 2014, bank reconciliation for Reynolds Company.
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