Question
Perform a bank reconciliation. Book balance is 84,293; bank balance is 90,568. I have completed the reconciliation but can't figure out what I did wrong.
Perform a bank reconciliation. Book balance is 84,293; bank balance is 90,568. I have completed the reconciliation but can't figure out what I did wrong. The "$250 check not returned..." is not relevant to the question and not to be included according to the answer key.
The company has received a $3,000 loan from the bank that was deposited into its bank account but was not recorded in the company records. | |||||||||||||||||
$250 check was not returned with the bank statement though it was paid by the bank. | |||||||||||||||||
Checks amounting to $4,290 shown as outstanding on the November reconciliation still have not been returned by the bank. | |||||||||||||||||
A collection of a note receivable for $1,000 made by the bank has not been previously reported to Goertzen. This includes interest earned of $50. | |||||||||||||||||
The bank has erroneously charged Goertzen with a $1,100 check, which should have been charged to Gagetown Ltd. | |||||||||||||||||
A $350 check made out by Fynn Company and deposited by Goertzen has been returned by the bank marked NSF; this is the first knowledge Goertzen has of this action. | |||||||||||||||||
A check for $840 was erroneously recorded as $730 in the company records. | |||||||||||||||||
A $600 bank deposit of December 31 does not appear on the bank statement. | |||||||||||||||||
Bank service charges amounting to $75 were deducted from the bank statement but not yet from the company records
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