Using Excel to Prepare a Bank Reconciliation
PROBLEM
The following information relates to Ceilo Limited's Cash account.
Reconciled cash balance from
June's bank reconciliation
Amounts from the general ledger:
July cash receipts
July cash payments
Amounts from the July bank statement:
Balance, July
Outstanding cheques
Deposit in transit
EFT collections on account that were not yet recorded on the books
NSF cheque
NSF fee
Bank service charge
$
Student Work Area
Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem and work area as indicated.
Prepare the necessary journal entries required on July for Ceilo.
Cash balance per bank
Add: Deposits in transit
Less: Outstanding cheques
Reconciled cash balance per bank
Cash balance per books
Add: EFT collections on account
Less: NSF cheque and fee
Reconciled cash balance per books
