Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Cash account of Regard Corporation had a balance of $3,480 at August 31,2021 . Included were outstanding checks totaling $1,700 and an August 31

image text in transcribed The Cash account of Regard Corporation had a balance of $3,480 at August 31,2021 . Included were outstanding checks totaling $1,700 and an August 31 deposit of $300 that did not appear on the bank statement. The bank statement, which came from Tri State Bank, listed an August 31 balance of $5,336. Included in the bank balance was an August 30 collection of $518 on account from a customer who pays the bank directly. The bank statement also showed a $15 service charge, $8 of interest revenue that Regard earned on its bank balance, and an NSF check for $55. Prepare a bank reconciliation to determine how much cash Regard actually had at August 31 . Prepare a bank reconciliation to determine how much cash Regard actually had at August 31. (Include the balances at August 31 in each of the addition subtotal calculations.) Renard Corn

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

IFRS edition volume 2

978-0470613474, 470613475, 978-0470616314

More Books

Students also viewed these Accounting questions