If you wish buy the solution contact me at

vmonika045@gmail.com and get A+ solution.

Price $20

Bills Lawn Care Module 4 Mini Practice Problem

Bills Lawn Care Module 4 Mini Practice Problem
In June, Billcommented to you that he could never figure out his bank
statement, it never matches the balance in my accounting records he tells
you. So you explain that a bank reconciliation is a tool used to balance the
bank statement to the accounting books. He gives you his bank statement
for June, 2014 (shown below). The general ledger shows a balance for the
account cash of $19,319.00 on June 30, 2014 (detail transactions below).
Bills business only has one checking account and no other cash accounts.
Instructions:
1. Using the bank statement and the general ledger, prepare a bank
reconciliation for Bills Lawn Care as of June 30, 2014. Record the
necessary journal entries to adjust the books for the appropriate reconciling
items. Start with Page 6 for the journal entries. Explanations are optional.
CHECKING ACCOUNT DETAIL:
DATE
TRANSACTION
TYPE & NUMBER
AMOUNT
BALANCE
BEGINNING BALANCE
$17,850.00

6/2/2014
CHECK #1570
226.00
17,624.00
6/5/2014
CHECK #1571
83.00
17,541.00
6/6/2014
EFT #43
127.00
17,414.00
6/10/2014
DEPOSIT #104
1,550.00
18,964.00
6/15/2014
CHECK #1572
145.00
18,819.00
6/15/2014
CHECK #1573

185.00
18,634.00
6/20/2014
DEPOSIT #105
885.00
19,519.00
6/24/2014
EFT #44
143.00
19,376.00
6/28/2014
CHECK #1574
87.00
19,289.00
6/28/2014
CHECK #1575
95.00
19,194.00
6/30/2014
DEPOSIT #106
425.00
19,619.00

6/30/2014
CHECK #1576
155.00
19,464.00
6/30/2014
CHECK #1577
145.00
$19,319.00
BANK STATEMENT:
FIRST NATIONAL BANK

ACCOUNT SUMMARY JUNE 30, 2014

BEGINNING BALANCE
$17,850.00
PAYMENTS
$1,021.00
DEPOSITS
2,440.00
FEES
35.00
ENDING BALANCE

$19,234.00
PAYMENTS
DATE
REFERENCE
AMOUNT
6/5/2014
1570
$266.00
6/9/2014
1571
83.00
6/10/2014
43
127.00
6/19/2014
1572
145.00
6/28/2014
1573
185.00
6/28/2014
NSF

120.00
6/30/2014
1575
95.00
TOTAL PAYMENTS
$1,021.00
DEPOSITS
DATE
REFERENCE
AMOUNT
6/11/2014
104
$1,550.00
6/23/2014
105
885.00
6/30/2014
INTEREST
5.00
TOTAL DEPOSITS
$2,440.00
FEES

6/30/2014
SVC CHG
$35.00
TOTAL FEES
$35.00
Additional Information: Check #1570 was written for $266.00, but
was recorded incorrectly in the general ledger. The check was for fuel.
Bills Lawn Care
Chart of Accounts
Classification
Account Number
Account Name
ASSETS
101
Cash
110
Accounts Receivable
112
Allowance for Doubtful Accounts
115
Notes Receivable
116

Interest Receivable
120
Supplies
130
Prepaid Insurance
140
Inventory
150
Equipment
155
Accumulated Depreciation Equipment
LIABILITIES
201
Accounts Payable
220
Notes Payable
225
Interest Payable
OWNERS EQUITY
301
Owners Capital
305

Owners Drawings
310
Income Summary
REVENUES
401
Lawn Service Revenue
410
Sales Revenue
415
Sales Returns and Allowances
420
Interest Income
COST OF GOODS SOLD
501
Purchases
505
Purchase Returns and Allowances
EXPENSES
620
Supplies Expense
630
Fuel Expense

640
Repair and Maintenance Expense
650
Advertising Expense
660
Insurance Expense
670
Depreciation Expense
680
Interest Expense
690
Bad Debt Expense
695
Miscellaneous Expense