Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ter 4 minder: always show your work and answers must go in the space provided. must use pencil or you will receive zero points on

ter 4 minder: always show your work and answers must go in the space provided. must use pencil or you will receive zero points on this test. This is on your syllabus. Part 1. Midge Miller is looking at her bank statement and trying to figure out where to start. You volunteered to help her. The Bank statement shows the balance as $2,955.82 and her balance in her checkbook has $3,370.82. With the numbers so close, she figures there won't be much for you to do but still wants you to do the work, while she fixes lunch for the two of you. As you look at the statement, you see her bank charged her $10.00 for a deposit that was mailed to them by someone that owes her money, and of course they show that they did deposit the $400.00 that the person mailed. Midge never records that payment until she sees it on the bank statement to prove that it was received. That was the good news. The bad news is that they subtracted $690.65 for a check a friend (not you) had written to her and she had deposited but it bounced, which means the bank also charged her $8.50 for a NSF fee. Meanwhile, you find a deposit she made for $510.19 that has not been processed by the bank. They also have not processed three of the checks she wrote: #327 $210.90, #356 $110.94, and #361 $82.50 Prepare a bank reconciliation, using proper labels and the proper format as shown in your textbook and as we went over in class. Part of your grade is based on the format and labels. If you don't have labels, as shown in the book, you will receive zero points for this. If you are not sure if you have them, come and ask. Don't risk getting zero points. Balance per Books: Add: Balance per Bank: Add: Subtract: Subtract: Reconciled Balance: Reconciled Balance: Remember to circle your answers

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

More Books

Students also viewed these Accounting questions