Solution-Prepare the bank reconciliation for jsl as at march

Prepare the bank reconciliation for jsl as at march

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Reference no: EM133163080

Question - James Smith Lid (JSL) is about to reconcile his bank statement for the month of March 2022. Information relevant to the reconciliation are below.

Bank Statement balance - $3,201.

General Ledger Balance - $3,843.

The bank erroneously deposited a cheque for $400 into the company's account (it should have gone into another account).

JSL recently issued the following cheques- #111 for $228, #112 for $725.00, and #113 for $61. These were all outstanding at the end of the month.

JSL received notification that a cheque for $2,010 that had been deposited into the account was returned NSF. The bank levied service charges of $34 on the returned cheque.

The March bank statement includes a $12 service charge.

Required -

1. Prepare the bank reconciliation for JSL as at March 31, 2022.

2. Prepare the journal entries for any adjusting journal entries that need to be made based on the cash reconciliation.

Reference no: EM133163080

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Prepare the bank reconciliation for jsl as at march

Reference no: EM133163080

Reference no: EM133163080

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