Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Puki Co. is currently doing a bank reconciliation for the month. their bank statement shows a balance of $50,000 while the company's books show a

Puki Co. is currently doing a bank reconciliation for the month. their bank statement shows a balance of $50,000 while the company's books show a cash balance of $54,000 at the end of the month. There are outstanding withdrawals of $8,000, and outstanding deposits of $10,000. There is also a NSF check indicated for $2,500. Puki Co. also found an error in their recording of a check they wrote to pay for services. The bank had the check recorded for $400 while the company had written it down as $900. The bank had the correct amount recorded. After doing the bank reconciliation, what would the adjusted balance on the book side be?

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

Step: 3

blur-text-image

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 Progressive Audit A Toolkit For Improving Your Organizational Quality Culture

Authors: Robert Pfannerstill

1st Edition

0873896629, 978-0873896627

More Books

Students also viewed these Accounting questions

Question

4. Choose appropriate and powerful language

Answered: 1 week ago

Question

2. Choose an appropriate organizational pattern for your speech

Answered: 1 week ago