Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Cash account of First on Call Security Systems reported a balance of $2,580 at December 31, 2018. There were outstanding chocks totaling $800 and

image text in transcribed

The Cash account of First on Call Security Systems reported a balance of $2,580 at December 31, 2018. There were outstanding chocks totaling $800 and a December 31 deposit in transit of $300 Cities Bank, listed the December 31 balance of $3,640. Included in the bank balance was a collection of $570 on account from Ryan Saar, a First on Call customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that First on Call earned on its bank balance. Prepare First on Cal's bank reconciliation at December 31 First on Call Security Systems December 31, 2018 Bank Balance, December 31, 2018 ADD LESS: Adjusted bank balance, December 31, 2018 Book: Balance, December 31, 2018 ADD: LESS

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

Audit Proof Tax Shelters

Authors: Donald Jay Korn

1st Edition

0130509310, 978-0130509314

More Books

Students also viewed these Accounting questions

Question

4. Support and enliven your speech with effective research

Answered: 1 week ago

Question

3. Choose an appropriate topic and develop it

Answered: 1 week ago