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. 57,015.40

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. 57,015.40 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 5 Service charge on bank statement not recorded in books. $50 6 Error by bank-Yertel Company check charged on Fast Company's bank statement $375 7 Check for advertising expense $260 incorrectly recorded in books as 5620 Note: Do not round answers - enter using two decimal places, when needed. FAST COMPANY Bank Reconciliation June 30 Ending Balance from bank statement $ 7.235.85 Balance from general ledger Add: Deposits not credited by bank 975 Add: Check Add: Bank error- Yertal Company check record charged against Fast Company's account 375 Less: Outstanding checks 1.260.45 Less: Service charge Reconciled cash balance 5 7,3254 Reconciled cash balance $ 7,0154 OX OX Ox 7.325.4 s Bank Reconciliation Components Idently the requested amount in each of the following situations Munster Company's Maya bank reconciliation shows deposits in transit of $1,400. The general ledger Cash in Dank account shows total cash receipts during june of 555.500. The june bank statement shows total cash deposits of 354300 and no credit me. What amount of deposits in transit should appear in the June 30 bank reconciliation & Sanders Company Apt 31 bank reconciliation shows outstanding ches of $1,350. The general ledger Cashin Bank account shows total cash disbursements call by theck during September of 49.00. The September tank statement show: 549.700 of checks clearing the bank. What amount of outstanding the should appear in the September 30 bank reconciliation? Burke Corporation's March 1 bank reconciliation shows deposits in transit of 5700. The general ledger Cash in Bank account shows total cash receipts during April of 541,000. The April bank statement shows to cash deposits of 57,100 (including 1,000 from the collection of a not the note collection has not yet been recorded by remont). What amount of deposits in transit should appear in the Agribank reconciliation 2.700 2.450 7.500

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

Accounting For Managers And Entrepreneurs

Authors: Charles T. Horngren

9th Edition

1323167897, 9781323167892

More Books

Students also viewed these Accounting questions

Question

please try to give correct answer 3 . .

Answered: 1 week ago

Question

What attracts you about this role?

Answered: 1 week ago

Question

How many states in India?

Answered: 1 week ago

Question

HOW IS MARKETING CHANGING WITH ARTIFITIAL INTELIGENCE

Answered: 1 week ago