Jim s Fitness Center deposits all receipts in the bank each

Jim’s Fitness Center deposits all receipts in the bank each evening and makes all payments by
check. On April 30, its ledger balance of cash is $ 1,515.10. The bank statement balance of
cash as of April 30 is $ 1,920.42. Use the following information to reconcile the bank statement:
a. The reconciliation for March, the previous month, showed three checks outstanding on March
31: no. 555 for $ 56.00, no. 556 for $ 428.25, and no. 557 for $ 20.00. Check no. 555 and no.
557 were returned with the April bank statement; however, check no. 556 was not returned.b.
Check no. 565 for $ 120.00, no. 567 for $ 45.00, no. 569 for $ 15.00, and no. 570 for $ 18.15
were written during April and have not been returned by the bank. c. A deposit of $ 119.08 was
placed in the night depository on April 30 and did not appear on the bank statement. d. The
canceled checks were compared with the entries in the checkbook, and it was observed that
check no. 561, for $ 46, was written correctly, payable to J. L. Lang, the owner, for personal
use, but was recorded in the checkbook as $ 64. e. Included in the bank statement was a bank
debit memo for service charges, $ 25. f. Included in the bank statement was an NSF check from
Millie Smith in the amount of $ 95. Required 1. Prepare a bank reconciliation as of April 30
assuming that the debit memo and NSF check have not been recorded.2. Record the necessary
entries in general journal from.View Solution: Jim s Fitness Center deposits all receipts in the
bank each
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