Question
Need this answered asap! The Cash account of First on Alert Security Systems reported a balance of $2,550 at December 31, 2024. There were outstanding
Need this answered asap!The Cash account of First on Alert Security Systems reported a balance of $2,550 at December 31, 2024. There were outstanding checks totaling $1,800 and a December 31 deposit in transit of $400. The bank statement, which came from Park Cities Bank, listed the December 31 balance of $4,550. Included in the bank balance was a collection of $610 on account from Nicole Lee, a First on Alert customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that First on Alert earned on its bank balance. Prepare First on Alert's bank reconciliation at December 31.
he Cash account of First on Alert Security Systems reported a balance of $2,550 at December 31,2024 . There were outstanding checks totaling $1,800 and a December 31 deposit 400. The bank statement, which came from Park Cities Bank, listed the December 31 balance of $4,550. Included in the bank balance was a collection of $610 on account from Nico irst on Alert customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that First on Alert earned on its bank balance. Pr irst on Alert's bank reconciliation at December 31Step 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