Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bank Reconciliation The following data were gathered to use in reconciling the bank account of Photo Op. Company: Balance per bank $ 11,780 Balance per
Bank Reconciliation
The following data were gathered to use in reconciling the bank account of Photo Op. Company:
Balance per bank | $ 11,780 |
Balance per company records | 9,825 |
Bank service charges | 55 |
Deposit in transit | 1,730 |
NSF check | 640 |
Outstanding checks | 4,380 |
a. What is the adjusted balance on the bank reconciliation? $
b. Journalize any necessary entries for Photo Op. Company based on the bank reconciliation. For a compound transaction, if an amount box does not require an entry, leave it blank.
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