At April 30, the bank reconciliation of Frobisher shows three outstanding cheques: No. 254, $1,120; No. 255,
Question:
At April 30, the bank reconciliation of Frobisher shows three outstanding cheques: No. 254, $1,120; No. 255, $1,600; and No. 257, $820. A list of cheques recorded by the bank and the company in the month of May follows:
Additional information:
1. The bank did not make any errors.
2. The company made one error.
Instructions
(a) List the outstanding cheques at May 31.
(b) List other items that must be included in the bank reconciliation. Describe the impact of each on the reconciliation.
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118024492
5th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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