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Unit 3 Exam - Hands-On - Part 1

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42 views2 pages

Unit 3 Exam - Hands-On - Part 1

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e0127dost
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Unit 3 Exam - Hands-On - Part 1

Assets:

Bank statement balance $4,461.00

Bank service charge 16.00

Outstanding deposit, Oct. 31 448.00

Outstanding checks:

No. 110 37.00

No. 111 75.00

No. 114 587.00

Checkbook balance on Check Stub No. 115 4,226.00

Activity continues on next page….


Unit 3 Exam - Hands-On - Part 1
On October 31 of the current year, Bell Sports received a bank statement dated October 30. Information has been obtained from the bank statement and from the records of the
business. Prepare a bank statement reconciliation. Use Oct. 31 of the current year as the date.
Fill in the grey fields. (1pt per blank) (18 pts total)

RECONCILIATION OF BANK STATEMENT Oct. 31, 20–

Balance on Check Stub No. 115 $ 4226 Balance on Bank Statement $ 4461

DEDUCT BANK CHARGES: ADD OUTSTANDING DEPOSITS:

Description Amount Date Amount

Service Charge $ 16 10 / 31 /- $ 448

/ /-

Total bank charges $ 16 Total outstanding deposits 448

SUBTOTAL $ 4909

DEDUCT OUTSTANDING CHECKS

Check No. Amount

110 37

111 75

114 587

Total outstanding checks 699

Adjusted Check Stub Balance $ 4210 Adjusted Bank Balance $ 4210

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