1) The following data have been gathered for Centre Controls to assist you in preparing the 31 July 20X9 bank reconciliation: a) The 31 July bank balance was $4,000. b) The bank statement included $30 of service charges. c) There was an EFT deposit of $900 on the bank statement for the monthly rent due from a tenant. d) Cheques #541 and #543 for $205 and $320, respectively, were not listed among the cleared cheques shown on the statement. e) The 31 July deposit of $4,435 did not appear on the bank statement. f) The bookkeeper had erroneously recorded a $500 cheque as $5,000. The cheque was written to a vendor to pay off an accounts payable g) Included on the bank statement was a cheque written by Centre’s Comforts for $200 which was deducted from Centre Controls’ account. h) The bank statement included a dishonoured cheque written by MMI for a $460 payment on account. i) The cash at bank account showed a balance of $3,200 on 31 July. Required: 1) Prepare the 31 July 20X9, bank reconciliation for Centre Controls. 2) Prepare any adjusting entries required by the bank reconciliation.
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