Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The bank statement for Michah Mack Construction Co. indicates a balance of $9,184.60 on June 30. The cash account in the depositor's records had a

image text in transcribed
The bank statement for Michah Mack Construction Co. indicates a balance of $9,184.60 on June 30. The cash account in the depositor's records had a balance of $6,767.10. Prepare a bank reconciliation on the basis of the following items: 1. Outstanding checks amounted to $3,192.50. 2. Deposit in transit are $700.00 3. Bank debit memorandum for service charges is $30. 4. A check for $83 for supplies was recorded as $38 in the ledger. 5. NOTE: Do not use commas, minus signs or a dollar signs, Round Each Numberto 2 decimal places!! Bank Statement Balance Add: Deposit in transit Less: Outstanding Checks Reconciled Balance Beginning Bank Balance Add: Bank Service Charge Error Recorded Reconciled Balance

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

IT Auditing And Sarbanes Oxley Compliance Key Strategies For Business Improvement

Authors: Dimitris N. Chorafas

1st Edition

036738650X, 978-0367386504

More Books

Students also viewed these Accounting questions

Question

Locate the centroid y of thearea. y? = x 1 m y =x 1m-

Answered: 1 week ago