Intermediate Accounting, 13th Edition
by Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
March 2009, ©2010
ISBN 978-0-470-37494-8
P7-13 (Bank Reconciliation and Adjusting Entries)
The cash account of Aguilar Co. showed a ledger balance of $3,969.85 on June 30, 2010. The bank statement as of that date showed a balance of $4,150. Upon comparing the statement with the cash record, the following facts were determined.
1. There were bank service charges for June of $25
2. A bank memo stated that Bao Dai’s note for $1,200 and interest of $36 had been collected on June 29, and the bank had made a charge of $5.50 on the collection. (No entry had been made on Aguilar’s books when Bao Dai’s note was sent to the bank for collection.)
3. Receipt for June 30 for $3,390 were not deposited for collection
4. Checks outstanding on June 30 totaled $2,136.05
