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Mark 6 mark Socco Required: Prepare bank reconciliation statetement and the necessary adjusting entries for Socco The Question Your bous asked that you prepare the
Mark 6 mark Socco Required: Prepare bank reconciliation statetement and the necessary adjusting entries for Socco The Question Your bous asked that you prepare the bank reconciliation for February 2021 for Sacco Limited based on the following information: 1. According to the bank statement, the February 20 bank balance was $88.330. 2. At the end of the day on February 28, the balance in the cash account in the general ledger was $71.900, 3. On February 20, another accountant prepared a bank deposit for $16.750. The bank was closed and the accountant placed the deposit in the night deposit. The deposit was processed by the bank when it opened on Monday, March 3. 4. Two cheques were outstanding at February 26, cheque +371 for $12.409 and cheque #375 for $12.081. 5. Cheque #373 was written and recorded in the accounting records for $6.720. The bank deducted $7.620 from socco't bank account in error. The cheque wat written to one of Socco' suppliers. 6. On the bank statement there were electronic receipts from customers in the amount of 58.830 and bank service charges of Your bou commented that you should prepare the bank reconciliation in good for provide detailed supporting colculations and clearly label the items on the bank reconciliation. You should also prepare any ouma entre required at a result of the bank reconciliation in good form. Note that good form refers to the proper template
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