You Have Recently Started a Part Time Job in the Accounting

question 98

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 20X3. After completing the reconciliation, he made the following journal entry:
$$\begin{array} { | l | l | r | r | } \hline \text { June } 30 & \text { Cash } & 2,390 & \\\hline & \text { Bank Charges Expense } & 124 & \\\hline & \text { Accounts Receivable } ( \$ 3,000 \text { collection less } \$ 500 & & 2,500 \\& \text { NSF) } & & \\\hline & \text { Interest Earned } & & 14 \\\hline\end{array}$$ 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:

Continuous Childbirth

The phenomenon of having multiple childbirths in close succession without extended periods between pregnancies.

Forced Abortions

Abortions that are carried out without the consent of the pregnant individual, often under coercion or as a matter of policy.

One-Child Policy

A population control policy of China, implemented from 1979 to 2015, which limited many families to only one child in an effort to curb rapid population growth.

Urban Areas

Densely populated regions characterized by significant human settlement and infrastructure, such as cities and towns, where economic, cultural, and social activities are concentrated.