On May 2, 2019, PHF Vacations received its April bank statement from First City Bank and Trust. Enclosed with the bank statement
, which appears below, was a debit memorandum for $290 that covered an NSF check issued by Doris Fisher, a credit customer. The firm’s checkbook contained the following information about deposits made and checks issued during April. The balance of the Cashaccount and the checkbook on April 30, 2019, was $3,009.
DATE TRANSACTIONS
April 1 Balance $ 6,999
1 Check 1207 200
3 Check 1208 490
5 Deposit 540
5 Check 1209 370
10 Check 1210 3,900
17 Check 1211 105
19 Deposit 290
22 Check 1212 9
23 Deposit 290
26 Check 1213 340
28 Check 1214 21
30 Check 1215 15
30 Deposit 340
FIRST CITY BANK AND TRUST
PHF Vacations 1-877-123-9876
1718 Jade Lane
San Diego, CA 92111-4998
Account Number: 23-11070-08 April 1–30, 2019
Activity Summary:
Balance, April 1 $ 6,999.00
Deposits and credits 1,120.00
Withdrawals and debits (5,710.00 )
Balance, April 30 $ 2,409.00
DATE DESCRIPTION DEPOSITS/CREDITS WITHDRAWALS/DEBITS BALANCE
4/1/19 Opening balance $ 6,999.00
4/6/19 Deposit 540.00 7,539.00
4/6/19 Check No. 1207 200.00 7,339.00
4/10/19 Check No. 1208 490.00 6,849.00
4/10/19 Check No. 1209 370.00 6,479.00
4/13/19 Check No. 1210 3,900.00 2,579.00
4/14/19 Service fee 6.00 2,573.00
4/20/19 Deposit 290.00 2,863.00
4/22/19 Check No. 1211 105.00 2,758.00
4/25/19 Deposit 290.00 3,048.00
4/26/19 Check No. 1212 9.00 3,039.00
4/29/19 Debit for NSF Check 290.00 2,749.00
4/29/19 Check No. 1213 340.00 2,409.00
Totals 1,120.00 5,710.00
Required:
Prepare a bank reconciliation statement for the firm as of April 30, 2019.
Record general journal entries for any items on the bank reconciliation statement that must be journalized.
Analyze:
What checks remain outstanding after the bank statement has been reconciled?
DATE TRANSACTIONS
April 1 Balance $ 6,999
1 Check 1207 200
3 Check 1208 490
5 Deposit 540
5 Check 1209 370
10 Check 1210 3,900
17 Check 1211 105
19 Deposit 290
22 Check 1212 9
23 Deposit 290
26 Check 1213 340
28 Check 1214 21
30 Check 1215 15
30 Deposit 340
FIRST CITY BANK AND TRUST
PHF Vacations 1-877-123-9876
1718 Jade Lane
San Diego, CA 92111-4998
Account Number: 23-11070-08 April 1–30, 2019
Activity Summary:
Balance, April 1 $ 6,999.00
Deposits and credits 1,120.00
Withdrawals and debits (5,710.00 )
Balance, April 30 $ 2,409.00
DATE DESCRIPTION DEPOSITS/CREDITS WITHDRAWALS/DEBITS BALANCE
4/1/19 Opening balance $ 6,999.00
4/6/19 Deposit 540.00 7,539.00
4/6/19 Check No. 1207 200.00 7,339.00
4/10/19 Check No. 1208 490.00 6,849.00
4/10/19 Check No. 1209 370.00 6,479.00
4/13/19 Check No. 1210 3,900.00 2,579.00
4/14/19 Service fee 6.00 2,573.00
4/20/19 Deposit 290.00 2,863.00
4/22/19 Check No. 1211 105.00 2,758.00
4/25/19 Deposit 290.00 3,048.00
4/26/19 Check No. 1212 9.00 3,039.00
4/29/19 Debit for NSF Check 290.00 2,749.00
4/29/19 Check No. 1213 340.00 2,409.00
Totals 1,120.00 5,710.00
Required:
Prepare a bank reconciliation statement for the firm as of April 30, 2019.
Record general journal entries for any items on the bank reconciliation statement that must be journalized.
Analyze:
What checks remain outstanding after the bank statement has been reconciled?
1 answer:
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