An accounting clerk for Chesner Co. prepared the following bank reconciliation:

Chesner Co.

Bank Reconciliation

July 31, 2016

1	Cash balance according to companys records		$11,100.00
2	Add: Outstanding checks	$3,585.00
3	Error by Chesner Co. in recording Check No. 1056 as $950 instead of $590	360.00
4	Note for $12,000 collected by bank, including interest	12,480.00	16,425.00
5			$27,525.00
6	Deduct: Deposit in transit on July 31	$7,200.00
7	Deduct: Bank service charges	25.00	7,225.00
8	Cash balance according to bank statement		$20,300.00

A.	From the data prepared by the accounting clerk, prepare a new bank reconciliation for Chesner Co., using the format shown in the illustrative problem in the text. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. (Note: Deduct: or Add: will automatically appear if it is required.)
B.	If a balance sheet were prepared for Chesner Co. on July 31, 2016, what amount should be reported for cash?

Amount Descriptions

Amount Descriptions
Adjusted balance
Bank error in charging Check No. 1056 as $590 instead of $950
Bank error in charging Check No. 1056 as $950 instead of $590
Bank service charges
Deposit in transit on July 31
Error in recording Check No. 1056 as $590 instead of $950
Error in recording Check No. 1056 as $950 instead of $590
Note for $12,000 collected by bank, including interest
Outstanding checks

Bank Reconciliation

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A. From the data prepared by the accounting clerk, prepare a new bank reconciliation for Chesner Co., using the format shown in the illustrative problem in the text. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. (Note: Deduct: or Add: will automatically appear if it is required.)

Score: 18/65

CHESNER CO.

Bank Reconciliation

July 31, 2016

1	Cash balance according to bank statement		?
2	?		?
3
4
5
6
7	Cash balance according to companys records		?
8		?
9
10
11
12

Points:

5.26 / 19

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Final Question

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B. If a balance sheet were prepared for Chesner Co. on July 31, 2016, what amount should be reported for cash?