Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

41 4 pts On October 31, 2021, the bank statement for the checking account of Blockwood Video shows a balance of $12,827, while the company's

41 4 pts On October 31, 2021, the bank statement for the checking account of Blockwood Video shows a balance of $12,827, while the company's records show a balance of $11,913. Information that might be useful in preparing a bank reconciliation is as follows: 1. Outstanding checks are $1,270. 2. The October 31 cash receipts of $825 are not deposited in the bank until November 2. 3. One check written in payment of utilities for $145 is correctly recorded by the bank but is recorded by Blockwood as a disbursement of $154. 4. Bank service fees of $32 are listed on the bank statement. 5. A deposit of $575 is recorded by the bank on October 13, but it did not belong to Blockwood. The deposit should have been made to the checking account of Hollybuster Video, a separate company. 6. The bank statement includes a charge of $83 for an NSF check. The check is returned with the bank statement, and the company will seek payment from the customer. What is the cash balance per reconciliationimage text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Fraud Examination

Authors: Joseph T Wells

2nd Edition

0470128836, 9780470128831

More Books

Students also viewed these Accounting questions

Question

=+ Describe the components. Which month was left out? Why?

Answered: 1 week ago

Question

1. Background knowledge of the subject and

Answered: 1 week ago