Solved: The bank reconciliation prepared by Gatz Company

on May 31
The bank reconciliation prepared by Gatz Company on May 31

The bank reconciliation prepared by Gatz Company on May 31, 2014, appeared as follows:

The Cash account in the General Ledger appeared as follows on June 30 (Gatz uses only a
General Journal to record transactions):

The following bank statement is available for June:

Required

a. Prepare bank reconciliation at June 30, 2014. Assume that any errors made were by the
bookkeeper (cheque #887 was for office supplies; cheque #891 was for utilities expense).

b. Prepare the necessary entries resulting from the bank reconciliation.

Analysis Component:

You have been employed with Gatz Company since June 1, 2014, and part of your job is writing
and recording cheques as well as preparing the bank reconciliation. To your surprise, the
person you replaced brought in the June bank statement as it had been mailed to her home.
While preparing the June bank reconciliation, you notice that cheque #882 for $1,800 cleared
the bank in June but is not among the cancelled cheques. What should you do? Explain.

The bank reconciliation prepared by Gatz Company on May 31

ANSWER
https://solvedquest.com/the-bank-reconciliation-prepared-by-gatz-company-on-may-31/

Reach out to freelance2040@yahoo.com for enquiry.

Powered by TCPDF (www.tcpdf.org)