Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume that the following information relates to your most recent bank statement dated September 30. Balance per bank statement at September 30 $3,400 Checks written

image text in transcribedimage text in transcribed
Assume that the following information relates to your most recent bank statement dated September 30. Balance per bank statement at September 30 $3,400 Checks written that had not cleared the bank as of September 30. #203 University tuition $2,300 #205 University bookstore 350 #208 Rocco's Pizza 30 #210 Stereo purchase 500 #211 October apartment rent 800 Interest amounting to $4 was credited to your account by the bank in September. The bank's service charge for the month was $5. In addition to your bank statement, you received a letter from your parents informing you that they had made a $2,400 electronic funds transfer directly into your account on October 2. After reading your parents' letter, you looked in your checkbook and discovered its balance was $(579). Adding your parents' deposit brought that total to $1,821. Prepare a bank reconciliation to determine your correct checking account balance. Balance per bank statement at September 30 _ Deduct outstanding checks: _ Adjusted cash balance Balance per your checkbook (including $2,400 deposit) Adjusted cash balance

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

Step: 3

blur-text-image

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

Horngrens Accounting The Financial Chapters

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

10th Edition

0133117561, 978-0133117561

More Books

Students also viewed these Accounting questions

Question

Draw a labelled diagram of the Dicot stem.

Answered: 1 week ago

Question

3. Im trying to point out what we need to do to make this happen

Answered: 1 week ago