Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
8. At December 31, 2011, Wendell Inc had a $8,000 debit balance in its Cash account. According to the company's bank statement, the company had
8. At December 31, 2011, Wendell Inc had a $8,000 debit balance in its Cash account. According to the company's bank statement, the company had a $9,100 balance in its bank account. Prepare a bank reconciliation given the following additional information: a. Outstanding checks totaled $2,500 b. Deposits in transit totaled $1,800 c. In reviewing the bank statement, a $1,000 deposit that cleared the bank was erroneously recorded as $450 in the company's books. d. A customer's NSF check for $130 was returned with the bank statement. e. A bank fee of $20 was included as part of the bank statement (not yet recorded in the company's books) Bank balance Reconciling items: Unadjusted book balance000 Book adjustments: Add 1800 Sunaut 2,506 Adjusted book balance 9 81R0Adjusted book balance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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