Computation of Bank reconciliation Statements.
The Jamison Cardstock Company did not spend a lot of time or money instituting proper internal controls over its cash transactions. The following information reflects Jamison's cash position as of June 30:
a. The cash recorded on Jamison's accounting records revealed a balance of $18,901.62 that also included undeposited cash receipts.
b. A credit of $100 on the bank statement was not recorded in the company's accounting records.
c. The balance on the bank statement was $15,550.
d. Outstanding Checks:
|
Check Number
|
Amount
|
|
62
|
$116.25
|
|
183
|
$150.00
|
|
284
|
$253.25
|
|
8621
|
$190.71.
|
|
8623
|
$206.80
|
|
8632
|
$145.28
|
The company cashier embezzled all undeposited cash receipts in excess of the $3,794.41 listed on the bank reconciliation that she prepared, as shown next.
|
Balance, per books, June 30
|
$18,901.62
|
|
|
Add:
|
Outstanding Checks:
|
|
|
|
|
|
|
NO. 8621
|
$190.71
|
|
|
|
|
|
|
NO. 8623
|
$206.80
|
|
|
|
|
|
|
NO. 8632
|
$145.28
|
442.79
|
|
|
|
|
|
|
|
|
$19,344.41
|
|
|
|
Subtract: Undeposited Receipts
|
|
|
3,794.41
|
|
|
|
|
Balance per bank, June 30
|
|
$15,550.00
|
|
|
|
|
|
Subtract: Unrecorded Credit
|
|
100.00
|
|
|
|
|
|
True Cash, June 30
|
|
$15,450.00
|
|
|
|
|
Required: Prepare a schedule showing how much the cashier embezzled.