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The bank statement shows a balance of $10,000. Outstanding checks total $2,000. Deposits in transit amount to $3,000. Bank service charges of $50 are recorded
The bank statement shows a balance of $10,000.
- Outstanding checks total $2,000.
- Deposits in transit amount to $3,000.
- Bank service charges of $50 are recorded in the bank statement.
- A check for $500 from a customer was returned NSF (non-sufficient funds) and is included in the bank statement.
- Prepare a bank reconciliation statement and determine the adjusted cash balance.
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
13th edition
134472144, 978-0134472140
