Chicago Company has hired you to reconcile its bank statement and cash account. At June 30, 2014, the Cash account on the books showed the following: There were neither outstanding checks nor deposits in transit at May 31, 2014.
Required:
A. Prepare the bank reconciliation at June 30, 2014.
B. Prepare the adjusting journal entries needed as a result of preparing the bank reconciliation.

Question

Chicago Company has hired you to reconcile its bank statement and cash account. At June 30, 2014, the Cash account on the books showed the following:  There were neither outstanding checks nor deposits in transit at May 31, 2014.
Required: 
A. Prepare the bank reconciliation at June 30, 2014.
B. Prepare the adjusting journal entries needed as a result of preparing the bank reconciliation.

Quizplus · Accepted Answer

The Answer of Chicago Company has hired you to reconcile its bank statement and cash account. At June 30, 2014, the Cash account on the books showed the following:  There were neither outstanding checks nor deposits in transit at May 31, 2014.
Required: 
A. Prepare the bank reconciliation at June 30, 2014.
B. Prepare the adjusting journal entries needed as a result of preparing the bank reconciliation.

Chicago Company Has Hired You to Reconcile Its Bank Statement