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A company's bank statement at Dec.31,2020 showed balance of $12,000 while the Company's book had a balance of $9,800 on same date. It was
A company's bank statement at Dec.31,2020 showed balance of $12,000 while the Company's book had a balance of $9,800 on same date. It was subsequently discovered that the total outstanding cheques were $4,150 with total deposits in transit totaling to $2,000. Total debit memos amounted to $50. Interest earned was $50 and total credit memos were $50. What is the Bank Reconciled balance?
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To determine the bank reconciled balance we need to adjust the book balance based on the ...
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
