Bank Reconciliation The following June 30 bank reconciliation was prepared for Poway Co. Poway Co. Bank...
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Bank Reconciliation The following June 30 bank reconciliation was prepared for Poway Co. Poway Co. Bank Reconciliation For the Month Ended June 30 Cash balance according to bank statement Add outstanding checks: No. 1067 1106 1110 1113 Deduct deposit of June 30, not recorded by bank Adjusted balance Cash balance according to company's records Add: Proceeds of note collected by bank: $575 470 $16,185 1,050 910 3,005 $19,190 6,600 $12,590 $8,985 Principal Interest $6,000 300 $6,300 Service charges 15 6,315 $15,300 Deduct: Check returned because of insufficient funds $890 Error in recording June 17 deposit of $7,150 as $1,750 Adjusted balance 5,400 6,290 $9,010 a. Identify the errors in the above bank reconciliation. Item Heading Outstanding checks Deposit of June 30 Check My Work 3 more Check My Work uses remaining. Correct All work saved. Bank Reconciliation The following June 30 bank reconciliation was prepared for Poway Co. Poway Co. Bank Reconciliation For the Month Ended June 30 Cash balance according to bank statement Add outstanding checks: No. 1067 1106 1110 1113 Deduct deposit of June 30, not recorded by bank Adjusted balance Cash balance according to company's records Add: Proceeds of note collected by bank: $575 470 $16,185 1,050 910 3,005 $19,190 6,600 $12,590 $8,985 Principal Interest $6,000 300 $6,300 Service charges 15 6,315 $15,300 Deduct: Check returned because of insufficient funds $890 Error in recording June 17 deposit of $7,150 as $1,750 Adjusted balance 5,400 6,290 $9,010 a. Identify the errors in the above bank reconciliation. Item Heading Outstanding checks Deposit of June 30 Check My Work 3 more Check My Work uses remaining. Correct All work saved.
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