Burke Company Has Just Received Its June 30 Bank Statement

question 73

Essay

Burke Company has just received its June 30 bank statement from Urban Bank. The bank statement and the cash account per the books, summarized below, are to be reconciled for the month of June. Other Data: Required:
A.Prepare the June 30 bank reconciliation.
B.Prepare the journal entries that should be made in the accounts of Burke Company as a result of the bank reconciliation.

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Definitions:

United Way

United Way is a non-profit organization dedicated to improving lives and strengthening communities through various support and development programs.

Federal Unemployment Taxes

Taxes imposed on employers to fund the federal government’s oversight and support of state unemployment insurance programs.

Filed And Remitted

Filed and remitted refers to the submission and payment of taxes or other obligations to the appropriate authorities.

State Unemployment Taxes

Taxes imposed by state governments on employers based on the taxable wages paid to employees, funding unemployment compensation programs.