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Prepare a bank reconciliation at september

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Reference no: EM131922572

Question - Bank Reconciliation and Adjusting Entries

Presented below is information related to Wizards Inc.

Balance per books at August 31, $19,580.35; receipts $185,680.86; disbursements $191,600.09. Balance per bank statement September 30, $17,680.63.

The following checks were outstanding at September 30.

5641 $1,856.21

5642 953.40

5644 2,681.27

5645 300.00

Included with the September bank statement and not recorded by the company were a bank debit memo for $31.00 covering bank charges for the month, a debit memo for $859.46 for a customer's check returned and marked NSF, and a credit memo for $900 representing bond interest collected by the bank in the name of Wizards Inc. Cash on hand at September 30 recorded and awaiting deposit amounted to $1,680.91.

Instructions

(a) Prepare a bank reconciliation (to the correct balance) at September 30, for Wizards Inc. from the information above.

(b) Prepare any journal entries required to adjust the cash account at September 30.

Reference no: EM131922572

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