Business, 02.06.2020 18:59 haylieshaven1
The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don’t have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized):
Bank Statement
Checks Deposits Balance
Balance, April 1, 2014 $37400 32,700
Deposits during Apri 1,340 70,100
Interest collected 71,440
Checks cleared during April $45,600 25,840
NSF check-A. B. Wright 270 25,570
Bank service charges 230 25,340
Balance, April 30, 2014 25,340
Cash (A)
Apr. 1 Balance 24,700
Apr Deposits 43,500
Apr. Checks written 42,100
A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,500. No deposits in transit were carried over from March, but a deposit was in transit at the end of April.
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