Assignment 3: Manual Bank Reconciliation (The
Furniture Company)
For this assignment, you will perform a bank reconciliation manually. You will not use
QuickBooks. Three (3) PDFs are required.
Part 1: Create a Two-Part Manual Bank Reconciliation file in Excel
Using either the format discussed in class or the format shown in your book, create your
own version of a lined, two-part manual bank reconciliation form. Highlight the balances
that should match using any technique you like. Assume that each month you would
print out a blank form to write on as you completed several manual bank reconciliations
in your role as company bookkeeper. Save your file as a PDF.
What to Submit: Call your file firstname_bank_rec_form. Submit for grading.
Part 2: Manually reconcile the ANYWHERE Financial bank statement dated June
28, 2019.
The Furniture Company has given you a hand-written check register and the
ANYWHERE Financial bank statement just arrived in the mail. Perform a manual
reconciliation between these two documents using the two-part Excel form you just
created. You may type into Excel or write on the form by hand.
If you wish to set up a QuickBooks file to check your work you may. However, this
assignment requires you to demonstrate that you understand the manual approach to
reconciling a bank statement. Your completed submission should show that both the
Adjusted Bank Statement Balance and the Adjusted Ledger Balance of Cash match.
What to Submit: Once you have successfully reconciled the Bank Statement, save your
two-part manual format into a PDF called
firstname_Furniture_Co_manual_bank_rec.pdf. You will submit this PDF for grading.
Part 3: Create the journal entry or entries.
Determine whether or not The Furniture Company’s books should be updated given the
information you documented in your manual reconciliation. If so, create the journal entry
or entries you think are required.
Use the bank statement date, June 28, 2019, as the date for your journal entries. You
may document your journal entries any way you like, as long as they can be submitted
via PDF. Be sure to include proper descriptions and explain why you think a JE is
needed.
If there is anything else you think should be investigated based on your work, explain
what you think you need to do next.
What to Submit: Call your PDF firstname_Furniture_Co_JEs.pdf. Submit this PDF for
grading.
Be sure to read the on-screen prompts before you click "Submit Assignment."
Once your assignment has been submitted, it cannot be submitted again unless
an administrator resets it for you. You will receive confirmation when you have
successfully submitted the assignment.
Proposed Grading Criteria
Proficient
Developing
Marginal
Unsatisfactory or
No Submission
90-100 points
70-89 points
60-69 points
0 - 59 points
Part 1: Create
a Two-Part
Manual Bank
Reconciliation
file in Excel
Submitted and
complete.
Errors, if any,
are
insignificant.
Submitted but
lacking
required
elements or a
few significant
errors were
present.
Did not complete
assignment or
submission is
lacking basic
required
elements.
Part 2:
Manually
reconcile the
ANYWHERE
Financial
bank
statement
Submitted and
complete.
Errors, if any,
are
insignificant.
Submitted but
lacking
required
elements or a
few significant
errors were
present.
Part 3: Create
the journal
entry or
entries.
Submitted and
complete.
Errors, if any,
are
insignificant.
Submitted but
lacking
required
elements or a
few significant
errors were
present.
Submitted but
lacking
required
elements or
more than a
few significant
errors were
present.
Submitted but
lacking
required
elements or
more than a
few significant
errors were
present.
Submitted but
lacking
required
elements or
more than a
few significant
errors were
present.
Did not complete
assignment or
submission is
lacking basic
required
elements.
Did not complete
assignment or
submission is
lacking basic
required
elements.