Bank Bank Statement Description Bookkeeper notes 01lan18 02J

Bank Bank Statement Description Bookkeeper notes 01-lan-18 02-Jan-18 CHQ177 02-Jan-1B CHOI82 02-lan-18 NIGHT DEPOSIT 05-lan-18 NIGHT DEPOSIT 9-Jan-1BNSF Cheque-TIL Co 09-Jan-1NSF fee 11-lan-18 NIGHT DEPOSIT 12-lan-18Direct Deposit-XYZ Ca 15-lan-18 MM Insurance direct payment Bs Co.\'s unadjusted cash general ledger balance at January 31, 2018 is $5,386. The bookkeeper has compiled the following information and notes: 722 11,778 11,692 12,314 14,250 12,820 12,792 14,994 I5,588 bank recorded incorrect 17 Bank Reconei 1,936 Deposit in transit at December 31, 2017 622 with customer Outstanding cheques December 31, 2017 bock to customer correct t-or Janary insurance, 128 4,218 bank hos correct grt 15-lan-18 CHO185 5-lan-1S NIGHT DEPOSIT 16-lan-18 CHO170 17-lan-18 CHO183 Recx Co. January Deposit Listing Recx Co. Cheque Register Jan 2018 14,658 14,608 4,124 0,824 12,474 0,516 11,341 6,721 5,609 5,583 Date 05-Jan-18 10-Jan-18 15-Jan-18 19-Jan-18 26-Jan-18 31-Jan-18 1,936 Cheques and Cash total Choques and Cash total Cheques and Cash total Cheques and Cash total Cheques and Cash total Cheques and Cash total 3,300 1,958 328 19-Jan-1S NIGHT DEPOSIT 22-lan-18 CHO84 26-Jan.18 | NIGHTDEPOSIT 29-Jan-18 CHOI87 29-lan-18 | CH0192 31-lan-18Bank charges 31-Jan-1B Interest 1,650 1,650 1958 825 4,620 67 3,300 1,020 ,520 833 92 36 14,411 01-Fe-18 NIGHT DEPOSIT 6,616 a) Prepare the bank reconciliation for Recy Co.\'s bank account at January 31, 2018. b) Prepare any adjusting journal entries needed arising from the bank reconciliation.

Solution

b. Adjusting journal entries.

RECY CO.
Bank reconciiation
for the month of January 2018
Balance as per bank	5596	Balance as per cash book	5386
Additions:		Additions:
Wrong entry for Ch# 82	18	Ch.#79	128
NSF Ch. -- Til Co.	1430	Direct deposit	594
NSF fee	28	Ch.# 86	880
MM insurance - direct payment	490	Ch.# 88	67
Wrong entry for Ch# 85	54	Ch# 90	725
Bank charges	26	Ch# 90	833
Night deposit	1020	Ch# 93	36
		Interest	13
Total Additions	3066	Total Additions	3276
Deductions:		Deductions:
Ch.#79	128	Wrong entry for Ch# 82	18
Direct deposit	594	NSF Ch. -- Til Co.	1430
Ch.# 86	880	NSF fee	28
Ch.# 88	67	MM insurance - direct payment	490
Ch# 90	725	Wrong entry for Ch# 85	54
Ch# 90	833	Bank charges	26
Ch# 93	36	Night deposit	1020
Interest	13
Total Deductions	3276	Total Deductions	3066
Balance as per cash book	5386	Balance as per bank	5596