Which of the reconciling items listed below require an entry in the company's accounts? (None of the transactions reported by bank debit and credit memos have been recorded by the company.)   Answer Yes or No Item Entry Required 1. Bank service charges, $90.   2. Check of a customer returned by bank to company because of insufficient funds, $520.   3. Check for $420 incorrectly recorded by the company as $240.   4. Check for $1,440 incorrectly charged by bank as $140.   5. Deposit in transit, $5,310.   6. Outstanding checks, $10,370.   7. Note collected by bank, $12,600.

The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): Balance, April 1, Current Year Deposits during April Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges BANK STATEMENT Checks Deposits Balance $32,200 $36,500 68,700 1,280 69,980 $46,400 23,580 250 23,330 170 23,160 23,160 Balance, April 30, Current Year Cash (A) April 1 Debit Balance April Deposits Credit 24,000 April Checks written 42,200 44,600 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $6,400 (including $4,600 written before and $1,800 written during April). No deposits in transit were carried over from March,…

! Required information [The following information applies to the questions displayed below.] The bookkeeper at Washington Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The May 31, Current Year, bank statement and the May ledger account for cash showed the following (summarized): BANK STATEMENT Balance, May 1, Current Year Deposits during May Interest collected Checks cleared during May NSF check-B. C. Wong Bank service charges Balance, May 31, Current Year May 1 Debit Balance May Deposits Cash (A) Checks * Required: 1. Complete the following bank reconciliation. $ 47,400 360 110 Deposits $ 38,800 1,840 Credit 26,700 May Checks written 44,400 Balance $ 33,800 72,600 74,440 27,040 26,680 26,570 26,570 43,700 A comparison of checks written before and during May with the checks cleared through the bank showed outstanding checks at the end of May…

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