solution

1. La Jack Newbie, a co-op student from a local university, was working at Perfect Employer Inc. he has gathered the following information to prepare the March 31 bank reconciliation The bank statement for March included a debit of $198 with respect to a non-sufficient-funds (NSF) cheque from Bouncer Inc At March 31sthe following cheques were outstanding: #136 for $897 W139 for $2,000 W142 for $163 3. On March 29, the bank collected a $2,900 note plus interest of 563 on behalf of the company Jack had made a deposit at the bank on his way home from work on March 31. The $2,008 was not on the March bank statement The bank collected 853 in March for service charges 5. 6. In recording a $1,700 cheque received on account from a customer, Jack had erroneously listed the collection in the cash receipts journal as $170. The cheque appeared correctly among the deposits on the March bank statement, 7 The cash balance per books of the Perfect on March 31″ before any adjustments is $14.560 The bank statement shows a balance on March 31st of $19,854. Required 3 Prepare the necessary adjusting journal entries resulting from the above. Calculate the revised cash balance per books, Prepare a bank reconciliation at March 31. b