The bank account as a control device that helps to protect cash. One of the requirements is to conduct periodic bank statement reconciliations. Using the following data, complete the bank statement reconciliation.
Prepare a bank reconciliation using ABC Restaurant Supply Inc.'s information for August 31. · A NSF check from Johnny Jones for $3,164. · Two deposits made on August 31 were not on the bank statement, totaling $2,897.
The bank collected an EFT payment for Rent for $2,600. · August 31 balance in Cash was $1,905.
The owner had written check # 1598 for $500 and recorded this check as $5,000.
The balance on the bank statement as of August 31 was $5,216. · Bank service charge of $28 was shown on the bank statement. · Checks #1572, 1606, 1116, and 1242 for $419, $126, $650, and $1,105, respectively, were not shown on the bank statement, even though the company had sent the checks.