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September 16, 2014

Homework Help: ACCOUNTING

Posted by Anonymous on Sunday, August 31, 2008 at 4:52am.

Need to prepare the bank reconciliation for Multi-Plex Health care at May31 and Record the entries called for by the reconciliation.

The May 31 bank statement of Multi-Plex Health care has just arrived from first state bank.To prepare the bank reconciliation gather the following data:
1.The May31 bank balance is $12,209, 2.The bank statement includes two charges for NSF checks from customers.One is $67 and the other for $195, 3.The following Multi-Plex checks are outstanding at May 31:
Check No Amount
616 $405
802 74
806 36
809 161
810 229
811 48
4.Multi-Plex collects from a few customerrs by EFT.The may bank statement lists a $200 deposit for a collection on account,5.The bank statement includes two special deposits that Multi-Plex hasn't recorded yet:$900,for dividend revenue, and $16, the interest revenue Multi-Plex earned on its bank balance during May,6.The bank statement lists a $7 subtraction for the bank statement,7.On may 31 the Multi-Plex treasurer deposited $381, but this does not appear on the bank statement,8.The bank statement includes a $410 deduction for a check drawn by Multi-State Frieght Company.Multi-Plex notified the bank of this error,9.Mult-Plex's cash account shows a balance of $11,200 on May31

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