Question
Refer to the information given below: The August 31 balance shown on the bank statement is $9,818. There is a deposit in transit of $1,242
Refer to the information given below:
The August 31 balance shown on the bank statement is $9,818.
There is a deposit in transit of $1,242 at August 31.
Outstanding checks at August 31 totaled $1,909.
Interest credited to the account during August but not recorded on the company's books amounted to $103.
A bank charge of $35 for checks was made to the account during August. Although the company was expecting a charge, the amount was not known until the bank statement arrived.
In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $627 had been recorded as a disbursement of $344.
The August 31 balance in the general ledger Cash account, before reconciliation, is $9,366.
Required: Prepare a bank reconciliation as of August 31 from the above informationStep by Step Solution
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