The Following Information Is Available for Jade Company for the Month

question 103

Essay

The following information is available for Jade Company for the month ending June 30, 2014.
• Balance as per the bank statement is $11,240.
• Balance as per books is $10,200.
• Check #506 for $1,200 and check #510 for $900 were not shown on the June 30, bank statement.
• A deposit in transit of $3,110 had not been received by the bank when the bank statement was generated.
• A bank debit memo indicated an NSF check for $85 written by Jane Smith to Jade Company on June 13.
• A bank credit memo indicated a note collected by the bank of $2,100 and interest revenue of $55 on June 20.
• The bank statement indicated service charges of $20.
Prepare bank reconciliation for Jade Company for June 30, 2014.

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Definitions:

Anti-democratic

Referring to principles, actions, or ideologies that oppose democracy, which is a system of government where power is vested in the hands of the people, often through elected representatives.

Elitist

Pertaining to a belief or attitude that a select group of people with a certain ancestry, intrinsic quality, high intellect, wealth, or who have specific, desirable affiliations are entitled to lead or enjoy special status.

Anti-democratic

Opposed to democratic principles, often favoring centralized control or leadership without the same level of input or influence from the general population.

Upper-management Levels

The highest tier in an organization's management hierarchy, responsible for strategic decision-making and company-wide policy setting.