Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Cash account of Regard Corporation had a balance of 53,630 at October 31, 2021. Included were outstanding checks totaling $1.700 and an October 31

image text in transcribed
image text in transcribed
image text in transcribed
The Cash account of Regard Corporation had a balance of 53,630 at October 31, 2021. Included were outstanding checks totaling $1.700 and an October 31 deposit of $200 that did not appear on the bank statement. The bank statement, which came from Tumstone State Bank listed an October 31 balance of 55,667 Included in the bank balance was an October 30 collection of 5661 on account from a customer who pays the bank directly. The bank statement also showed a $16 service charge, 512 of interest revenue that Regard earned on its bank balance, and an NSF check for $20 Prepare a bank reconciliation to determine how much cash Regard actually had at October 31 Prepare a bank reconciliation to determine how much cash Hogard actually had at Udober 31 indo the balances at October 31 in each of the addition subtotal calculations.) Regard Corp Bonk Reconciliation October 31, 2021 Included were outstanding checks Bank Balance, October 31 Add: Books 5667.00 Balance, October 31 Add Subtotal Less Subtotal Less The Cash account of Regard Corporation had a balance of $3,530 at October 31, 2021. Included were outstan Subtotal Subtotal Less: Less: Adjusted bank balance Adjusted book balance Regard has cash of at October 31

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

Emerging Markets And Financial Resilience Decoupling Growth From Turbulence

Authors: C. Hooy, R. Ali, HooyChee-Wooi, S. Ghon Rhee

2nd Edition

1137266600, 9781137266606

More Books

Students also viewed these Accounting questions