Sunday 10 November 2019

The following information is available for Pyle Garage for March 2018

The following information is available for Pyle Garage for March 2018:
BANK STATEMENT
HAZARD STATE BANK
215 MAIN STREET
HAZARD, GA 30321
Pyle Garage
629 Main Street
HAZARD, GA 30321
Account number
62-00062
March 31, 2018
Beginning balance 3/1/2018 $9,090
Total deposits and other credits 30,194
Total checks and other debits 25,167
Ending balance 3/31/2018 14,117

Checks and Debits Deposits and Credits

Check No. Amount Date Amount


1462 $ 3,811
March 1 $ 1,155



1463
1,696
March 2
6,557



1464
8,054
March 6
4,996



1465
2,955
March 12
6,223



1466
1,462
March 17
6,019



1467
6,238
March 22
2,138



DM
71
CM

3,106



1468
880







  
The following is a list of checks and deposits recorded on the books of Pyle Garage for March 2018:
Date
Check No. Amount of Check Date
Amount of Deposit
March 1
1463 $ 1,696
March 1
$ 6,557
March 5
1464
8,054
March 5

4,996
March 6
1465
2,955






March 9
1466
1,462
March 10

6,223
March 10
1467
6,238






March 14
1468
160
March 16

6,019
March 19
1469
1,553
March 19

2,138
March 28
1470
801
March 29

3,599


Other Information
  1. Check no. 1462 was outstanding from February.
  2. A credit memo for collection of accounts receivable was included in the bank statement.
  3. All checks were paid at the correct amount.
  4. The bank statement included a debit memo for service charges.
  5. The February 28 bank reconciliation showed a deposit in transit of $1,155.
  6. Check no. 1468 was for the purchase of equipment.
  7. The unadjusted Cash account balance at March 31 was $13,047.
Required:
  1. Prepare the bank reconciliation for Pyle Garage at the end of March.
  2. How the adjustments described above affect the cash account.
Complete this question by entering your answers in the tabs below.
Part A
Prepare the bank reconciliation for Pyle Garage at the end of March.


PYLE GARAGE
Bank Reconciliation
March 31, 2018
Unadjusted Bank Balance, March 31, 2018













True Cash Balance, March 31, 2018

Unadjusted Book Balance, March 31, 2018










True Cash Balance, March 31, 2018

Part B
How the adjustments described above affect the cash account. (Select "Not affected" if there is no affect on the "Cash account".)


Item No. Affect on the Cash Account
1.
2.
3.
4.
5.
6.

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