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Question 1 [35 points]

Consider the following information and prepare a bank reconciliation, along with any resulting journal entries, for Barton Corporation for the month ended August 31, 2015. Please enter journal entries for each of the following, if required. Enter the corresponding number as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie 15/Jan).

Question 1 [35 points) Consider the following information and prepare a bank reconciliation, along with any resulting joumal entries, for Barton Corporation for the month ended August 31, 2015. Please enter journal entries for each of the following, if required. Enter the corresponding number as the description for each entry. Also, the dates must be entered in the format dd/mmm (ie 15/Jan). 1. Outstanding deposit 2. Interest eamed 3. NSF cheque 4. Bank service charge 5. Error 6. Notes receivable collected 7. Outstanding cheque 21,095 Bank statement balance Add: Outstanding deposit Barton Corporation Bank Reconciliation July 31, 2015 20,550 Book balance Add: 1,300 Interest earned 21,850 Deduct: Bank service charge 750 21,100 Adjusted book balance 15 21,110 10 Deduct: Outstanding cheques: #333 Adjusted bank balance 21,100 Debit Bank Statement To: Barton Corporation August 31, 2015 Cheques/Charges/Debits Deposits/Credits Balance 20,550 05/Aug 800 05/Aug 1,300 21,050 07/Aug 750 07/Aug 950 21,250 11/Aug 1.350 11/Aug 800 20,700 Cash Date Desc. PR 31/Jul Balance 31/Aug/ CR15 31/Aug/ CD6 Account No. 101 Credit Balance 21,100 26,600 9,250 17,350 5,500 #342 #333 #341 Date Debit Cash Desc. PR 31/Jul Balance 31/Aug CR15 31/Aug CD6 Account No. 101 Credit Balance 21,100 26,600 9.250 17,350 5,500 Bank Statement To: Barton Corporation August 31, 2015 Cheques/Charges/Debits Deposits/Credits Balance 20,550 #342 05/Aug 800 05/Aug 1,300 21,050 #333 07/Aug 750 07/Aug 950 21,250 #341 11/Aug 1,350 11/Aug 800 20,700 #345 16/Aug 1,000 16/Aug 1,450 21,150 #340 19/Aug 1,000 19/Aug 900 21,050 #343 22/Aug 850 20.200 NSF 28/Aug 400 19.800 #346 29/Aug 950 18,850 #344 30/Aug 900 17,950 Bank service charge 31/Aug 10 Interest earned 10 17,950 The NSF cheque for $400 was that of a customer. Deposits Made August 7. 11. 16 19 31 Total August Cash Reciepts. 950 800 1,450 900 1,400 5,500 Cheques Written No. 340 341 342 343 344 345 346 347 348 349 Total August Cash Disbursements 1,000 1,350 800 850 900 1,000 950 750 850 800 9,250 Barton Corporation Bank Reconciliation August 31, 2015 Book balance Add: Bank statement balance Add: Deduct Deduct: Outstanding cheques: Adjusted bank balance Adjusted book balance General Journal Account/Explanation Page GJ2 F Debit Credit Date + +

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