西方财务会计_chapter5.pptVIP

Example 1(page.129)(cont.) The following information was available when the Gordon Company began to reconcile its bank balance on May 31. 199x, balance per depositor’s books, $9,983.80; balance per bank statement, $9,561.40; depositor in transit, $1,703.50; checks outstanding – No.1385 for $120.50, No. 1386 for $873.10 and No. 1387 for $401.50; bank service charge, $7.00; NSF check for $134.00; bookkeeping error $27 overstated for telephone expense. Example 1(cont.) Gordon Company Bank Reconciliation May 31. 199x Balance per bank statement $9561.40 Balance per books $9983.80 Add:Deposit in transit 1703.50 Less:Service charge $7.00 $11264.90 NSF check 134.00 141.00 Less:Outstanding checks $9842.80 No.1385 120.50 Add: No.1386 873.10 Bookkeeping error 27.00 No.1387 401.50 1395.10 Corrected bank balance $9869.80 Corrected book balance $9869.80 ======= ======= Example 1 Journal entries should be made for any adjustments to the book accounts. To complete the reconciliation, the following two journal entries will be needed. Entry 1 Accounts Receivable 134 Service charge Expense 7 Cash 141 Entry 2 Cash 27 Telephone Expense 27 For students(cont.) Prepare a July 31 bank reconciliation statement and the resulting journal entries for the Simmons Company. The July 31 bank statement indicated a cash balance of $9,610, while the cash ledger account on that date shows