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The Cash account of Ranger Security Systems reported a balance of $2.500 at December 31, 2018. There were outstanding checks totaling $600 and a December
The Cash account of Ranger Security Systems reported a balance of $2.500 at December 31, 2018. There were outstanding checks totaling $600 and a December 31 deposit in transit of $400. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $3,350. Included in the bank balance was a collection of $660 on account from Kelly Brooks, a Ranger customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Ranger earned on its bank balance. Prepare Ranger's bank reconciliation at December 31. Ranger Security Systems Bank Reconciliation December 31, 2018 Bank: Balance, December 31, 2018 ADD: LESS: Adjusted bank balance, December 31, 2018 Book: Balance, December 31, 2018 ADD: LESS: Adjusted book balance, December 31, 2018 Balance, December 31, 2018 ADD: Bank collection LESS: Deposit in transit Adjuster Interest revenue Book: Outstanding checks Balance Service charge
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