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I especially need help on how to calculate outstanding checks. Thanks! An examination of the cash activities during the year shows the following. Suzie has
I especially need help on how to calculate outstanding checks. Thanks!
An examination of the cash activities during the year shows the following. Suzie has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time. Suzie makes deposits at the bank only on the first day of each month. After comparing the two balances. Suzie has some concern because the bank's balance of $68, 170 is substantially less than the company's balance of $89, 970. Prepare Great Adventures' bank reconciliation for the six-month period ended December 31, 2018. (Amounts to be deducted should be indicated with a minus sign. Total entries to the same account together when entering in the bank reconciliation.)Step by Step Solution
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