Question
The Cash account of Safe and Secure Security Systems reported a balance of $2,470 at December 31 , 2016. There were outstanding checks totaling $400
The Cash account of Safe and Secure Security Systems reported a balance of $2,470 at December 31 , 2016. There were outstanding checks totaling $400 and at December 31 deposit in transit of $200. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $3,240. Included in the bank balance was a collection of $580 on account from Roger Adams , a Safe and Secure customer who pays the bank directly. The bank statement also shows a $30 service charge and $20 of interest revenue that Safe and Secure earned on its bank balance. Prepare Safe and Secure 's bank reconciliation at December 31.
| Safe and Secure Security Systems |
| Bank Reconciliation |
| December 31, 2016 |
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| Balance, December 31, 2016 |
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| LESS: |
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| Adjusted bank balance, December 31, 2016 |
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| Book: |
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| Balance, December 31, 2016 |
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| Adjusted book balance, December 31, 2016 |
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