Bank Reconciliation

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

Chesner Co.
Bank Reconciliation
August 31
Cash balance according to company's records			$7,270
Add: Outstanding checks	$3,490
Error by Chesner Co. in recording Check
No. 1056 as $830 instead of $380	450
Note for $11,400 collected by bank, including interest	11,860		15,800
			$23,070
Deduct: Deposit in transit on August 31	$7,400
Bank service charges	40		7,440
Cash balance according to bank statement			$15,630

Question Content Area

a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in the Exhibit 12.

Chesner Co. Bank Reconciliation August 31

Cash balance according to bank statement		$fill in the blank 9e523903b047f87_1
Add deposit in transit on August 31Add error in recording Check No. 1056 as $830 instead of $380Add note for $11,400 collected by bank, including interestAdd outstanding checks		- Select -
Deduct bank service chargesDeduct deposit in transit on August 31Deduct error in recording Check No. 1056 as $830 instead of $380Deduct outstanding checks		- Select -
Adjusted balance		$fill in the blank 9e523903b047f87_6
Cash balance according to company's records		$fill in the blank 9e523903b047f87_7
Add bank service chargesAdd deposit in transit on August 31Add error in recording Check No. 1056 as $830 instead of $380Add outstanding checks	$- Select -
Add bank service chargesAdd deposit in transit on August 31Add note for $11,400 collected by bank, including interestAdd outstanding checks	- Select -	- Select -
Deduct bank service chargesDeduct error in recording Check No. 1056 as $830 instead of $380Deduct note for $11,400 collected by bank, including interestDeduct outstanding checks		- Select -
Adjusted balance		$fill in the blank 9e523903b047f87_15

Question Content Area

b. If a balance sheet were prepared for Muskegon Co. on May 31, 2016, what amount should be reported for cash? $fill in the blank 169d69fe802903f_1