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Item #1. The bank statement for August 2017 shows an ending balance of $3,490.

Item #2. On August 31 the bank statement shows charges of $35 for the service charge for
maintaining the checking account.
Item #3. On August 28 the bank statement shows a return item of $100 plus a related bank
fee of $10. The return item is a customer's check that was returned because of
insufficient funds. The check was also marked "do not redeposit."
Item #4. The bank statement shows a charge of $80 for check printing on August 20.
Item #5. The bank statement shows that $8 was added to the checking account on August
31 for interest earned by the company during the month of August.
Item #6.
The bank statement shows that a note receivable of $1,000 was collected by the
bank on August 29 and was deposited into the company's account. On the same
day, the bank withdrew $40 from the company's account as a fee for collecting the
note receivable.

Item #7. The company's Cash account at the end of August shows a balance of $967.

Item #8.
During the month of August the company wrote checks totaling more than
$50,000. As of August 31 $3,021 of the checks written in August had not
yet cleared the bank and $200 of checks written in June had not yet cleared the

Item #9. The $1,450 of cash received by the company on August 31 was recorded on the
company's books as of August 31. However, the $1,450 of cash receipts was
deposited at the bank on the morning of September 1.
Item #10.
On August 29 the company's Cash account shows cash sales of $145. The bank
statement shows the amount deposited was actually $154. The company
reviewed the transactions and found that $154 was the correct amount.
The bank statement of the Fast company shows a balance of $10,000 on 31 January
2015 whereas the company’s ledger shows a balance of $8,526. The following reasons
were identified for this discrepancy.

• An amount of $822 sent to the bank for deposit on 31 January 2015 does not
appear in the bank statement.
• The following checks issued during the month of January have not yet been
cleared by the bank.
Check No: 201, Issue date: 15 January 2015, Amount; $200;
Check No: 212, Issue date: 19 January 2015, Amount; $20;
Check No: 216, Issue date: 25 January 2015, Amount; $610;
• A note receivable amounting to $1,588 has been collected by bank for the
• The bank statement shows that interest amounting to $50 has been earned on
average account balance during January.
• The bank has charged $10 for the collection of note.
• A check of $100 deposited by the company has been charged back as NSF.
• An amount of $25 has been deducted by bank as service charges for the month of
• The check no. 220 was issued to electricity company. The check was in the amount
of $95 but was erroneously recorded in the cash payments journal as $59.

Required: Prepare a bank reconciliation statement for the Fast company using above
information. Also make journal entries to update the accounting records of the
Company AsemManis‘s bank statement dated Dec 31, 2011 shows a balance of $24,594.72. The
company's cash records on the same date show a balance of $23,196.79. Following additional
information is available:

• Following checks issued by the company to its customers are still

No. 846 issued on Nov 29 $320.00
No. 875 issued on Dec 26 49.21
No. 878 issued on Dec 29 275.00
No. 881 issued on Dec 31 186.50
• A deposit of $400.00 made on Dec 31 does not appear on bank statement.
• An NSF check of $850 was returned by the bank with the bank statement.
• The bank charged $50 as service fee.
• Interest income earned on the company's average cash balance at bank was
• The bank collected a note receivable on behalf of the company. Amount
received by the bank on the note was $550. This includes $50 interest income.
The bank charged a collection fee of $10.
• A deposit of $430 was incorrectly entered as $340 in the company's cash