Fierro Company received a bank statement showing a balance of $13,800 on November 30, 2016. During the

Question:

Fierro Company received a bank statement showing a balance of $13,800 on November 30, 2016. During the bank reconciliation process, Fierro's accountant noted the following bank errors:
1. A check for $161 issued by Ferro, Inc., was mistakenly charged to Fierro Company's account.
2. Check 2782 was written for $300 but was paid by the bank as $1,300.
3. Check 2920 for $95 was paid by the bank twice.
4. A deposit for $690 on November 22 was credited by the bank for $960.
Assuming outstanding checks total $2,250, prepare the adjusted bank balance section of the November 30, 2016, bank reconciliation.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

Question Posted: