Question
The Cash account of Reitmeier Corporation had a balance of $3,460 at August 31, 2021 Included were outstanding checks totaling $1,700 and an August
The Cash account of Reitmeier Corporation had a balance of $3,460 at August 31, 2021 Included were outstanding checks totaling $1,700 and an August 31 deposit of $400 that did not appear on the bank statement. The bank statement, which came from Panorama State Bank, listed an August 31 balance of $5.258. Included in the bank balance was an August 30 collection of $569 on account from a customer who pays the bank directly. The bank statement also showed a $33 service charge, $17 of interest revenue that Reitmeier earned on its bank balance, and an NSF check for $55. Prepare a bank reconciliation to determine how much cash Reitmeier actually had at August 31. Prepare a bank reconciliation to determine how much cash Reitmeier actually had at August 31 (Include the balances at August 31 in each of the addition subtotal calculations.) Reitmeier Corp. Bank Reconciliation Bank Balance, August 31 Add: Subtotal Less Adjusted bank balance August 31, 2021 Books Balance, August 31 Add: Subtotal Less: Adjusted book balance
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