Prepare the bank reconciliation statement for adams car

Assignment Help Financial Accounting

Reference no: EM133496594

Case: Adam's Car Repairs Ltd. has just received its bank statement for June 2022 from ANB Bank. To prepare the bank reconciliation, the following data has been gathered:

The 30 June bank statement balance is $20435.00.
The company's Cash at Bank ledger account shows a balance of $19440.78 on 30 June.
The money owed by a customer Jim C. was transferred to the business account by EFT[AG1] . The June bank statement shows $240 was collected from Jim C.
The following cheques are not presented to the bank on 30 June:

Cheque No.	Amount
216	$266.40
302	$101.40
306	$43.92
309	$193.66
310	$274.86
311	$46.69

The bank statement includes two special deposits: $1078.97 for rent revenue, and $20.23, the interest revenue Adam earned on its bank balance during June.
The bank statement includes a $7.50 subtraction for the bank service charge.
On 30 June, the company's cashier deposited $457.37, but this deposit does not appear on the bank statement.
The bank statement includes a $492.00 deduction for a cheque drawn by another company. The bank is informed of this bank error.

Required:

Prepare the bank reconciliation statement for Adam's Car Repairs for the month of June

[AG1]Is this electronic fund transfere? Do we need to clarify?

Reference no: EM133496594

Questions Cloud

Explain the sign of each of the cross-price elasticities : Explain the sign of each of the cross-price elasticities. What does it imply about the relationship between the two goods in question?

What is the net present value of this project : What is the net present value of this project, if the Company policy is to use 15% as the discount rate for evaluating projects? Answer(rounded to thousands

Explain whether a court is likely to permit anne : Explain whether a court is likely to permit Anne to take a derivative action against Mike and Mark under s 165 of the Companies Act 1993

Analyze the article as it applies to the criminal justice : Summarize discussions with your peers from your discussion, Criminal Justice Policy Issue Analyze the article as it applies to the criminal justice policy issue

Prepare the bank reconciliation statement for adams car : Prepare the bank reconciliation statement for Adams Car Repairs for the month of June [AG1]Is this electronic fund transfere? Do we need to clarify

How would social responsibility in emergency management : How you would improve diversity, inclusion, and social responsibility in the Emergency Management agency?

What is the risk exposure of wellington insurance : What is the risk exposure of Takaroa CU and What is the risk exposure of Wellington Insurance

What is the countrys current account balance : Analyze the data in the following exercise and send your answer in an attached file. What is the country's current account balance?

How do you think you could go about improving those skills : Why do you think these skills are important for the position? How do you think you could go about improving those skills?

User Account

All Pages