Answered step by step
Verified Expert Solution
Question
1 Approved Answer
prepare correct bank reconciliation Bank Reconcitation prepared by Sophia Collin Images Ltd. Bank Reconciliation As at February 28 Balance per bank statement $ 21,200 Balance
prepare correct bank reconciliation
Bank Reconcitation prepared by Sophia Collin Images Ltd. Bank Reconciliation As at February 28 Balance per bank statement $ 21,200 Balance per accounting records S 28,200 Add: EFT receipt 2,180 Deposits in transit Correction -insurance 4,460 Add: 270 Less: NSF cheque (1.760) Outstanding cheques Bank charges (4.800) Less: (90) + Reconciled Balance $ 21,040. Reconciled Balance $ 28,620 b) Prepare a corrected Bank Reconciliation. (4 marks) Bank Reconcitation prepared by Sophia Collin Images Ltd. Bank Reconciliation As at February 28 Balance per bank statement $ 21,200 Balance per accounting records S 28,200 Add: EFT receipt 2,180 Deposits in transit Correction -insurance 4,460 Add: 270 Less: NSF cheque (1.760) Outstanding cheques Bank charges (4.800) Less: (90) + Reconciled Balance $ 21,040. Reconciled Balance $ 28,620 b) Prepare a corrected Bank Reconciliation. (4 marks) Step 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