Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please look over this and fill in what is left. You have received the bank statement for your company's account and need to reconcile it

Please look over this and fill in what is left.

image text in transcribed

You have received the bank statement for your company's account and need to reconcile it with your general ledger cash account. Your records show an ending balance for the month of $12,722.40 while the bank's records show an ending balance of $12,367.16. The bank charged $8 in service fees and paid $26.05 in interest. All but three checks written during the month were processed by the bank without incident during the month. The three exceptions were: Check #841 was correctly processed by the bank as $981.27 but was mistakenly recorded by you as $781.27. Check #853 for $64.57 had not yet been processed by the bank. Check #855 for $683.46 had not yet been processed by the bank. All but two of the deposits made during the month were processed by the bank without incident. The two exceptions were: A customer check for $307.95, which had been deposited during the month, was returned NSF. A deposit totaling $613.37 had not yet been processed by the bank. Using the information provided above, prepare a bank reconciliation. (Round your answers to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Teams Audit

Authors: Kevin Barham

1st Edition

1907766030, 978-1907766039

More Books

Students also viewed these Accounting questions

Question

Is an executive summary a persuasive message? Explain your answer.

Answered: 1 week ago

Question

Find the median of the following data: 23, 49, 87, 75, 88, 59, 89

Answered: 1 week ago

Question

Is it clear what happens if an employee violates the policy?

Answered: 1 week ago