Business, 02.07.2020 21:01, gabelawson6996

On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9,780. The balance in the firm's checkbook and Cash account on the same date was $10,008. The difference between the two balances is caused by the items listed below. a. A $2,935 deposit made on March 30 does not appear on the bank statement.
b. Check 358 for $515 issued on March 29 and Check 359 for $1,710 published on March 30 have not yet been paid by the bank.
c. A credit memorandum shows that the bank has collected a $1,200 note receivable and interest of $120 for the firm.
d. A service charge of $31 appears on the bank statement.
e. A debit memorandum shows an NSF check for $555. The check was Issued by Dane Jarls, a credit customer.)
f. The firm's records indicate that Check 341 of March 1 was issued for $900 to pay the month's rent. However, the canceled check and the listing on the bank statement show that the actual amount of the check was $800.
g. The bank made an error by deducting a check for $590 issued by another business from the balance of Home Decorating Pavilion's account.

Required:

1. Prepare a bank reconciliation statement for the firm as of March 31, 2019.
2. Prepare a bank reconciliation statement for the firm as of March 31, 2019. (Enter all amounts as positive values.)

Answers: 1

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On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9,780. T...