Adjusting Reported Cash Balances Maria Gallardo notices that the balance recorded in her checkbook is $820, which
Question:
Adjusting Reported Cash Balances Maria Gallardo notices that the balance recorded in her checkbook is $820, which is $440 less than the balance shown on her bank statement. Examining the checks included with the bank statement, she sees that three checks she wrote totaling $412 have not yet cleared the bank. Also, she notices that a check that did clear was written for $86 but was mistakenly recorded in her checkbook as $68 dollars. In addition, a $10 check given to her by a coworker was returned for insufficient funds, and an automatic deposit for $60 was made to her account that she had not yet recorded. The bank also deducted a service charge, but the bank statement is smeared and she cannot determine the amount of the charge. Calculate the bank service charge.
Step by Step Answer:
Financial Accounting A Decision Making Approach
ISBN: 9780471328230
2nd Edition
Authors: Thomas E. King, Valdean C. Lembke, John H. Smith