Bank_Reconciliation_-_Solution

Bank_Reconciliation_-_Solution - Beaver Company has a...

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Beaver Company has a December 31 year end.  They just received their bank statement for  January 31, 2011 with an ending balance of $30,390.     The details of the bank statement are as follows:  Balance Balance, January 1, 2011 25,400 25,400 Deposit, January 5, 2011 2,300 27,700 NSF Cheque 800 26, 900 Cheque 147 - Electricity Co. 300 26,600 Automatic Deduction - Hydro Co. 400 26,200 Deposit, January 15, 2011 5,000 31,200 Cash Withdrawal 810 30,370 Interest Earned 50 30,420 Service Charge 30 30,390 The chief accountant is on vacation and you have been asked to prepare a bank reconciliation for the  company.  Upon your review of his work, you realize that the only things the chief accountant recorded were  deposits made by the company, thus overstating their cash balance. The final deposit was made on January 31, 2011 for $4,600. On the same day, the chief accountant also wrote a cheque to the receptionist for $2,000, her monthly salary.
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This note was uploaded on 01/18/2012 for the course AFM 101 taught by Professor Kennedy during the Fall '08 term at Waterloo.

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Bank_Reconciliation_-_Solution - Beaver Company has a...

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