Question
The following information is needed to reconcile the cash balance for Woods Paper Products. A deposit of $5,794.62 is in transit. Outstanding checks total $1,533.25.
The following information is needed to reconcile the cash balance for Woods Paper Products. A deposit of $5,794.62 is in transit. Outstanding checks total $1,533.25. The book balance is $5,695.62. The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month's rent. The bank balance at February 28, 2008 was $16,500.25. A deposit of $300 was credited by the bank for $3,000. A customer's check for $1,280 was returned for nonsufficient funds. The bank service charge is $70.
Required: Prepare companys adjusted cash book and bank reconciliation for February 2013.
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