Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

d CE The Cash account of Queen City Security Systems reported a balance of $2,420 at December 31, 2024. There were outstanding checks totaling $1,600

d CE The Cash account of Queen City Security Systems reported a balance of $2,420 at December 31, 2024. There were outstanding checks totaling $1,600 and a December 31 deposit in transit of $400. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $4,270. Included in the bank balance was a collection of $660 on account from Wayne Brown, a Queen City customer who pays the bank directly. The bank statement also shows a $30 service charge and $20 of interest revenue that Queen City earned on its bank balance. Prepare Queen City's bank reconciliation at December 31. Queen City Security Systems Bank Reconciliation December 31, 2024 Bank: Balance, December 31, 2024 ADD: LESS: Adjusted bank balance, December 31, 2024 Book: Balance, December 31, 2024, ADD

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

Students also viewed these Accounting questions

Question

5 What sort of fle format does the reader prefer?

Answered: 1 week ago