Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Alpha College E-learning ge My Courses Assume you are doing a Bank Reconciliation. The bank balance at end of a month is $0 and the

Alpha College E-learning ge My Courses Assume you are doing a Bank Reconciliation. The bank balance at end of a month is $0 and the Book balance for same date is $150. Based on the the following transactions, find what is the RECONCILING BALANCE: (a) Bank made an error of $200 by clearing a cheque in the amount of $600 instead of the correct amount of $400. (b) Book also made an error of recording an entry incorrectly, i.e. it recorded a deposit of $50 incorrectly as $125. (c) Bank put through a credit memo (CM) of $100 and Interest of $25 in the bank account. Type your answer in the answer box. Make sure your answer is numerical only and without any dollar signs or commas or decimal places. Com Mark Answer: 400

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financing China S Belt And Road Initiative

Authors: XIAO Gang

1st Edition

1032027479, 978-1032027470

More Books

Students also viewed these Accounting questions

Question

What does it mean to isolate the technical core of a business?

Answered: 1 week ago