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I-06.03 Problem

# I-06.03 Problem - I-06.03 Following is the X4 bank...

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I-06.03 Following is the September 30, 20X4 bank reconciliation for the Quiet Moose Lodge. You are also provided with the October check register and bank statement. Utilize this information to prepare October's bank reconciliation and related adjusting entry. You may assume that any discrepancies between the check register and bank statement relate to recording errors in the accounts of the Quiet Moose, and not the bank. Ending balance per bank statement \$18,344.07 Add: Deposits in transit 2,505.55 Deduct: Outstanding checks #3444 175.00 \$ #3446 1,908.09 (2,083.09) Correct cash balance \$ 18,766.53 Ending balance per company records \$18,696.53 Add: Interest earnings 80.00 Deduct: Service charges (10.00) Correct cash balance \$ 18,766.53 1 of 3

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I-06.03 DATE PARTY REF # CHECK DEPOSIT Balance 1-Oct Balance 18,766.53 \$ 2-Oct Gomez 3448 145.99 \$ - 18,620.54 5-Oct Deposit - 3,400.00 \$ 22,020.54 7-Oct Bryers 3449 387.97 - 21,632.57 7-Oct Morton 3450 1,204.67 - 20,427.90 7-Oct Lee 3451 4,664.50 - 15,763.40 10-Oct Morici 3452 43.23 - 15,720.17 10-Oct LaCorx 3453 2,990.44 - 12,729.73 11-Oct Benson 3454 1,100.31 - 11,629.42 12-Oct Void 3455 - - 11,629.42 13-Oct Morgan 3456 695.77 - 10,933.65 13-Oct Russell 3457 788.87 - 10,144.78 14-Oct Deposit - 3,476.88 13,621.66 17-Oct Lowen 3458 3,664.34 - 9,957.32 19-Oct Post Office 3459 45.45 - 9,911.87 20-Oct Nguen 3460 677.21 - 9,234.66 30-Oct Behn 3461 499.00 -
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