Johnson Corporation s bank statement for October reports

an ending balance #2327

Johnson Corporation’s bank statement for October reports an ending balance of $22,381,
whereas Johnson’s cash account shows a balance of $22,025 on October 31. The following
additional information is available:a. A $855 deposit made on October 31 was not recorded by
the bank until November.b. At the end of October, outstanding checks total $1,222.c. The bank
statement shows bank service charges of $125 not yet recorded by the company.d. The
company erroneously recorded as $973 a check that it had actually written for $379. It was
correctly processed by the bank.e. A $480 check from a customer, deposited by the company
on October 29, was returned with the bank statement for lack of funds.Required:1. Prepare the
October bank reconciliation for Johnson Corporation.2. What amount will be reported as cash
on the October 31 balance sheet?View Solution:
Johnson Corporation s bank statement for October reports an ending balance

ANSWER
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