Answered step by step
Verified Expert Solution
Question
1 Approved Answer
65. Use the following information to prepare a bank reconciliation for Finch Company at August 31, 2016: (1)Cash account balance, August 31, $20,670.60 (2) Bank
65. Use the following information to prepare a bank reconciliation for Finch Company at August 31, 2016: (1)Cash account balance, August 31, $20,670.60 (2) Bank statement balance, August 31, S24,761.00. (3) Deposits in transit, S1,920.00 (4) Outstanding checks, August 31, S6,380.40. (5) Service charge on bank statement not recorded in books, $50.00. (6) Bank error--another company's check charged on Finch Company's bank statement, S500.00. Check for repairs expense, $1,340.00, incorrectly recorded in books as $1,520.00. (7)
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