According to the books of Alexander Company, the cash balance on October 31, 2022 was ($ 50,000),

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According to the books of Alexander Company, the cash balance on October 31, 2022 was $\$ 50,000$, while the bank statement showed $\$ 66,185$. After inspection, the company found that the following events reconcile the difference:

a. NSF $\$ 6,000$

b. Outstanding checks $\$ 31,000$

c. Deposit in transit $\$ 5,600$

d. Bank charge $\$ 3,300$

e. Interest revenue $\$ 85$

1. Prepare a bank reconciliation.

2. Prepare journal entries to adjust to the correct balance.

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Principles Of Financial Accounting IFRS Edition

ISBN: 9789814962605

3rd Edition

Authors: Earl K Stice, James D Stice, W Steve Albrecht, Monte R Swain, Rong-Ruey Duh, Audrey Wenhsin Hsu

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Question Posted: Apr 17, 2024 09:01 AM

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According to the books of Alexander Company, the cash balance on October 31, 2022 was ($ 50,000),

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Principles Of Financial Accounting IFRS Edition

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