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ACCT 315 UNIT 5 Assignment




Question;You are the newly hired accountant for The Gift Shop. The owner has just;received the December 31, 2008 bank statement and has asked you to prepare the;monthly bank reconciliation.;Write the procedure;documentation for the monthly bank reconciliation process in a;professional manner.;It will be the desktop;guide used by others in the event of your absence to prepare the;financial statements for The Gift Shop.;It may be in the form of a memorandumor as a;numbered listing of items, depending on your individual preference.;Prepare the monthly bank;reconciliation for The Gift Shop based on the information provided.;Additional information needed for bank reconciliation preparation follows;Cash per the unadjusted trial;balance is $12,675.;Cash balance per the bank;statement is $12,780.;Check #115 has not cleared;the bank. It was written for $645.;A deposit of $1,000 cleared;the bank but was not recorded in the general ledger.;A check for $250 was found in;the owner's desk drawer.;A deposit of $1,250 was taken;to the bank after 2 p.m. on December 31, 2008 and was not posted by the;bank until January 1, 2009.;Errors were noted in the;following checks;Check #121 was;recorded for $325 but cleared the bank as $320.;Check #125 was;recorded for $585 but cleared the bank as $600.


Paper#40702 | Written in 18-Jul-2015

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