Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation $18,520 $4,780 Chesner Co. Bank Reconciliation July 31, 2014 Cash balance according
Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation $18,520 $4,780 Chesner Co. Bank Reconciliation July 31, 2014 Cash balance according to company's records Adjustments: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $875 instead of $785 Note for $15,000 collected by bank, including interest Deposit in transit on July 31 Bank service charges Total adjustments Cash balance according to bank statement 90 15,600 (11,300) (45) 9,125 $27,645 a. From the data in this bank reconciliation, prepare a new bank rencillation for Chesner Co., use the format shown in the Let's review section. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Chesner Co. Bank Reconciliation July 31, 2014 Cash balance according to bank statement Previous Next > Next Total adjustments Cash balance according to bank statement 9,125 $27,645 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Cost the format shown in the view section. For those boxes in which you must enter subtracted or negative numbers use a minus sign Chesner Co. Bank Reconciliation July 31, 2014 Cash balance according to bank statement Adjusted balance Cash balance according to company's records QO Total additions ID Adjusted balance * b. If a balance sheet were prepared for Chesner Co. on July 31, 20Y4, what amount should be reported for cash
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started