1. BE.04.18.ALGO Bank Reconciliation Firebird Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement for February indicated the following: 2. BE.04.19.ALGO 3. BE.04.21.ALGO $87,892 Balance, February 28 Service charge for February Interest earned during February 100 4. BE.04.22 850 5. BE.04.24.ALGO 640 NSF check from Valerie Corp. (deposited by Firebird) Note ($14,000) and interest ($350) collected from a customer of Firebird's 14,350 6. BE.04.25 7. EX.04.32 Upon receiving the bank statement, Firebird's accountants analyzed its cash transactions for possible reconciling items between its cash balance per books and the bank statement: $71,810 Checking account balance per Firebird's books Outstanding checks as of February 28 Deposit in transit at February 28 6,440 4,800 Error in recording check 7853 issued by Firebird 18 The correct amount of check 7853 is $697. It was recorded as a cash disbursement of $679 by mistake. The check was issued to pay for merchandise purchases. The check appeared on the bank statement correctly. Required: Homework Chapter 4 eBook Required: 1. BE.04.18.ALGO 2. BE.04.19.ALGO 1. Prepare a bank reconciliation schedule in proper form at February 28. Firebird Corp. Bank Reconciliation February 28 3. BE.04.21.ALGO Cash balance from bank statement 4. BE.04.22 Add: Deposit in transit 5. BE.04.24.ALGO Less: 6. BE.04.25 Outstanding checks 7. EX.04.32 Adjusted cash balance Cash balance from company records Add: Interest earned during February 0 000 1 000 Note and interest collected Less: Recording error Service charge NSF check Adiusted cash balance Homework Chapter 4 eBook Adjusted cash balance ? 1. BE.04.18.ALGO 2. BE.04.19.ALGO $ Cash balance from company records Add: 3. BE.04.21.ALGO Interest earned during February 4. BE.04.22 Note and interest collected Less: 5. BE.04.24.ALGO 0 000 Recording error 6. BE.04.25 Service charge NSF check 7. EX.04.32 Adjusted cash balance Feedback 2. What is the amount of cash that should be reported on the February 28 balance sheet? Amount of cash reported on the February 28 balance sheet $ Feedback Feedback