Question
Sky Company is unable to reconcile the bank balance at January 31. Skys reconciliation is as follows. Cash balance per bank. $5,300 Add: NSF check.
Sky Company is unable to reconcile the bank balance at January 31. Skys reconciliation is as follows.
Cash balance per bank. $5,300
Add: NSF check. 1,570
Less: Bank service charge 35
Adjusted balance per bank $6,385
Cash balance per books. $5,705
Less: Deposits in transit 750
Add: Outstanding checks 1,950
Adjusted balance per books $6,905
Prepare a correct bank reconciliation
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Introduction to Managerial Accounting
Authors: Peter C. Brewer, Ray H. Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan
5th Canadian edition
77429494, 1259105709, 1260480798, 978-1259105708
