You Have Recently Started a Part Time Job in the Accounting

question 140

Essay

You have recently started a part time job in the accounting department of Burris Limited. The accountant, Ted Landry, had prepared the company's bank reconciliation for June 2013. After completing the reconciliation he made the following journal entry:
Ted was reviewing the bank reconciliation with you when unfortunately you spilled your coffee on it. He asks you to rewrite the reconciliation, in good form. He remembers that the only outstanding deposit was the last deposit for the month You check the general ledger and the bank balance at June 30 was $24,527 (credit). You also check the bank statement and the balance was $22,314 (credit,
i.e. overdrawn). You look up the last deposit for the month-it was for $21,789.
Required: Using the above information prepare, in good form, the bank reconciliation for Burris Limited for June.

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Definitions:

Superseding Cause

An intervening act or event that breaks the direct connection between the original wrongful act and the injury that occurred, relieving the original offender of liability.

Substantial Factor

A significant element or cause that contributes in a meaningful way to a particular outcome.

Foreseeable

A condition or event that is predictable or should have been anticipated in the course of planning or decision making.

Restatement Second Torts

A legal document summarizing the general principles of American tort law, including definitions and conceptual distinctions.