Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Reconcile the bank and book balances as of December 31, 2018 by using the following information. The Walls Fargo Bank has a balance of $1,253.86
Reconcile the bank and book balances as of December 31, 2018 by using the following information. The Walls Fargo Bank has a balance of $1,253.86 for BK Global Hospitality on December 31, 2018. BK's books have a balance of $1,725.53. The following items were brought to the attention of BK's treasurer: A deposit for $1,050.00 was made on December 31, 2018, but was recorded by the bank on January 5, 2019. The bank charged BK a $25 fee for a canceled check. Checks #256 was not cashed as of December 31. The check was written for $400.00 Interest collected from BK by the bank on a note receivable was $203.33 during the year. $1,253.86 _(2). Balance per bank statement, 12/31/2018 _(1) : Deposit in Transit _(3)___: Outstanding Check #256 Adjusted bank balance 12/31/2018 _(4). ($400.00) $1,903.86 (1) Add (2) $1,253.86 (3) Add (4) $200 (1) Less (2) $1,253.86 (3) Less (4) $200 (1) Add (2) $1,050.00 (3) Less (4) $400 (1) Less (2) $1,050.00 (3) Add (4) $400
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