ACCOUNTING SPREADSHEET EXCEL CHART

PR 7-3B

Bank reconciliation and entries

The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $17,750. The bank statement indicated a balance of $33,650 on July 31, 20Y5. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items:

1. Checks outstanding totaled $17,865.

2. A deposit of $9,150, representing receipts of July 31, had been made too late to appear on the bank statement.

3. The bank had collected $6,095 on a note left for collection. The face of the note was $5,750.

4. A check for $390 returned with the statement had been incorrectly recorded by Stone Systems as $930. The check was for the payment of an obligation to Holland Co. for the purchase of office supplies on account.

5. A check drawn for $1,810 had been incorrectly charged by the bank as $1,180.

6. Bank service charges for July amounted to $80.

 Adjusted balance: $24,305

PR 7-4B

Bank reconciliation and entries

The cash account for Collegiate Sports Co. on November 1, 20Y9, indicated a balance of $81,145. During November, the total cash deposited was $293,150, and checks written totaled $307,360. The bank statement indicated a balance of $112,675 on November 30, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:

1. Checks outstanding totaled $41,840.

2. A deposit of $12,200, representing receipts of November 30, had been made too late to appear on the bank statement.

3. A check for $7,250 had been incorrectly charged by the bank as $2,750.

4. A check for $760 returned with the statement had been recorded by Collegiate Sports Co. as $7,600. The check was for the payment of an obligation to Ramirez Co. on account.

5. The bank had collected for Collegiate Sports Co. $7,385 on a note left for collection. The face of the note was $7,000.

6. Bank service charges for November amounted to $125.

7. A check for $2,500 from Hallen Academy was returned by the bank because of insufficient funds.

Adjusted balance: $78,535