Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bank Reconciliation Use the following information to prepare a bank reconciliation for Fast Company at June 30: 1 Balance per Cash account, June 30. $7,015.40

image text in transcribed
image text in transcribed
Bank Reconciliation Use the following information to prepare a bank reconciliation for Fast Company at June 30: 1 Balance per Cash account, June 30. $7,015.40 2 Balance per bank statement, June 30. $7,235.85 3 Deposits not reflected on bank statement. $975 4 Outstanding checks, June 30. $1,260.45 $50 5 Service charge on bank statement not recorded in books. 6 Error by bank-Yertel Company check charged on $375 Fast Company's bank statement. $260 7 Check for advertising expense $620 incorrectly recorded in books as FAST COMPANY Bank Reconciliation June 30 Balance from general ledger Add: Check record $ Add: Add: Bank error. Yertal Company check charged against Fast Company's account Less

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

Financial Accounting

Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin

7th Canadian Edition

0135433061, 9780135433065

More Books

Students also viewed these Accounting questions