Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Cash account of Ranger Security Systems reported a balance of $2,520 at December 31, 2024. There were outstanding checks totaling $1,200 and a

image text in transcribed

The Cash account of Ranger Security Systems reported a balance of $2,520 at December 31, 2024. There were outstanding checks totaling $1,200 and a December 31 deposit in transit of $300, The bank statement, which came from Park Cities Bank, listed the December 31 balance of $4,040. Included in the bank balance was a collection of $630 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 reconciliatio at December 31. Bank: Ranger Security Systems Balance, December 31, 2024 ADD: Bank Reconciliation December 31, 2024 LESS: Adjusted bank balance, December 31, 2024 Book: Balance, December 31, 2024 ADD LESS Adjusted book balance, December 31, 2024

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

International Marketing And Export Management

Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr

8th Edition

9781292016924

Students also viewed these Accounting questions

Question

List and describe the four areas of a PivotTable report.

Answered: 1 week ago