Answered step by step
Verified Expert Solution
Question
1 Approved Answer
44. The following information relates to the bank account of Alan's Farm Supply Store on April 30 Balance per bank statement Balance per checkbook Outstanding
44. The following information relates to the bank account of Alan's Farm Supply Store on April 30 Balance per bank statement Balance per checkbook Outstanding checks #1201 # 1242 #1255 7.895 118 39 778 229 Deposits in transit 4,264 Bank service charge NSF check 16 Credit memo for interest earned Error. Check written and recorded by bank as $454 was subtracted in checkbook as $445 CHECKS BANK RECONCILIATION FORM OUTSTANDING PLEASE EXAMINE YOUR STATEMENT AT ONCE. ANY DISCREPANCY SHOULD BE REPORTED TO THE BANK Number Amount IMMEDIATELY 1 Record any transactions appearing on this statement but not listed in your checkbook 2. List any checks still outstanding in the space provided to the right 3. Enter the balance shown on the bank statement 4. Enter deposits recorded in your checkbook but not shown on the bank statement 5. Total lines 3 and 4 here 6. Enter total checks outstanding here TOTAL 7 Subtract line 6 from line 5, to obtain the adjusted bank balance
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