Answered step by step
Verified Expert Solution
Question
1 Approved Answer
C. Problem 1) Prepare a bank reconciliation for Hayden Inc. as of March 31 from the following information: a. The March 31 cash balance in
C. Problem 1) Prepare a bank reconciliation for Hayden Inc. as of March 31 from the following information: a. The March 31 cash balance in the general ledger was $13,766. b. The March 31 balance on the bank statement was $10,464. There is a deposit in transit of $3,698. d. Outstanding checks at March 31 totaled $1,260. e. In reviewing the canceled checks, it was determined that a check issued to a supplier to pay for goods of $50 was recorded on the books as $120. f. The bank charged a service fee of $42 during the month. g. The bank reported that a non-sufficient funds (NSF) check for $910 was returned. h. Interest income from the bank shown on the bank statement but not on the company's books was $18. Show a bank reconciliation as of March 31st. Start with the Balance per Bank in one column and Balance per Books in the second column
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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