In confirming that the checks shown on the cashiers January 31 bank reconciliation were outstanding on that date, you discover that check No. You also discover that these items were never added back into the Cash account in Kates books. Your investigation also reveals that the December 31, 2018, bank reconciliation showed three checks that had been outstanding longer than 10 months: No. You discover that the 1,200 unrecorded bank credit represents a note collected by the bank on Kates behalf it appears in the deposits column of the January bank statement. ![]() The cashier told me that these checks neednt appear on the reconciliation because he had notified the bank to stop payment on them and he had made the necessary adjustment on the books.ĭoes that sound reasonable to you At your request, Kate shows you the following (unaudited) January 31, 2019, bank reconciliation prepared by the cashier: Kates Cards KATES CARDS Bank Reconciliation JanuEnding balance from bank statement.īalance from general ledger 7,238.40 10,893.89 12,082.09 Less: Outstanding checks: No.
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