Question
E7-9 Don Wyatt is unable to reconcile the bank balance at January 31. Don's reconciliation is as follows. Cash balance per bank $3,560.20 Add: NSF
E7-9
Don Wyatt is unable to reconcile the bank balance at January 31. Don's reconciliation is as follows.
Cash balance per bank
$3,560.20
Add: NSF cheque
490.00
Less: Bank service charge
25.00
Adjusted balance per bank
$4,025.20
Cash
$3,875.20
Less: Deposits in transit
530.00
Add: Outstanding cheques
730.00
Adjusted balance per books
$4,075.20
Instructions (a)
Make correct bank reconciliation.
(b) Make the entries required by the reconciliation.
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
