Question
The following data was collected for use in reconciling Photo Op. Company's bank account: Balance by bank $ 11,780 Balance for company records 9,825 bank
The following data was collected for use in reconciling Photo Op. Company's bank account:
| Balance by bank | $ 11,780 |
| Balance for company records | 9,825 |
| bank service charges | 55 |
| Deposit in transit | 1,730 |
| cheque NSF | 640 |
| outstanding checks | 4,380 |
a. What is the adjusted balance on the bank reconciliation?
b. Journalize any necessary entries for Photo Op. Company based on bank reconciliation. For a compound transaction, if an amount box does not require an entry, leave it blank.
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a Balance per bank 11780 Outstanding Checks 4380 D...
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Financial And Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
14th Edition
1337119202, 978-1337119207
