Question
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 reconciliation
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started