Question

Del Gato Clinic's cash account shows a $11,589 debit balance and its bank statement shows $10,555 on deposit at the close of business on June 30. 

a. Outstanding checks as of June 30 total $1,829. 

b. The June 30 bank statement lists a $16 bank service charge. 

c. Check No. 919, listed with the canceled checks, was correctly drawn for $467 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $476. 

d. The June 30 cash receipts of $2,856 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. 

Exercise 6-12 Bank reconciliation LO P3 

Prepare its bank reconciliation using the above information. 

Answer 1

DEL GATO CLINIC Bank Reconciliation June. 30 $10,555 Book Blance Add: S 2,856 S 2,856 Eroor in check Bank statement balance $11,589 Add Bank Deposits 9 S $13,411 $11,598 Deduct: Outstanding Checks Deduct: 1,829 Bank Service Charge 16 S S 1,829 16 $11,582 Adjsuted Book Balance Adjusted bank balance $11,582

Answer 2