Don Wyatt is unable to reconcile the bank balance at January 31. Dons reconciliation is as follows.
Question:
Cash balance per bank ......... $3,560.20
Add: NSF check ............ 490.00
Less: Bank service charge ......... 25.00
Adjusted balance per bank ........ $4,025.20
Cash balance per books .......... $3,875.20
Less: Deposits in transit ......... 530.00
Add: Outstanding checks ......... 730.00
Adjusted balance per books ........ $4,075.20
Instructions
(a) Prepare a correct bank reconciliation.
(b) Journalize the entries required by the reconciliation.
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Step by Step Answer:
a Cash balance per bank statement 356020 Add Deposits in transit 53000 409020 ...View the full answer
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Related Book For 
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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