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Umber Company's bank reconciliation for September is presented below. Prepare the necessary adjusting journal entries based on the reconciliation report. UMBER COMPANY Bank Reconciliation September
Umber Company's bank reconciliation for September is presented below. Prepare the necessary adjusting journal entries based on the reconciliation report.
| UMBER COMPANY | |||
| Bank Reconciliation | |||
| September 30 | |||
| Bank statement balance | $ 1,350 | Book balance of cash | $ 995 |
|---|---|---|---|
| Add: | Add: | ||
| Deposit in transit | 1,250 | Proceeds of note | 875 |
| Bank error | 275 | ||
| $ 2,875 | 1,870 | ||
| Deduct: | Deduct: | ||
| Outstanding checks | 1,145 | NSF check | 125 |
| Bank service charge | 15 | ||
| Reconciled balance | $ 1,730 | Reconciled balance | $ 1,730 |
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Financial Accounting A Management Perspective
Authors: Nelson Macwan
1st Edition
6206142191, 978-6206142195
