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Reconcile jack steel month end cash balance

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Reference no: EM132558002

Perform a bank reconciliation.

Question a) Reconcile Jack Steel's month end cash balance as of 31 Jul 2019

Question b) Based on your analysis, propose adjusting entries (if any).

Transactions and balances:

  • 31 Jul 2019 Bank Statement balance $ 58,791
  • 31 Jul 2019 balance per Jack's records $ 57,371
  • Jack received a payment that he has not deposited $ 250
  • Jack issued a cheque payable to Pandora's Jewels to pay for a belated Mother's Day gift to his grandmother that has not been presented to the bank $ 1,612
  • Bank charges for the month of July were $40
  • Interest on bank balance credited to Jack's account $ 98

Reference no: EM132558002

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