Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following to answer questions 9-11 On February 28th, the general ledger of the company shows a balance for cash of $186,200. Cash receipts

image text in transcribed
Use the following to answer questions 9-11 On February 28th, the general ledger of the company shows a balance for cash of $186,200. Cash receipts yet to be deposited into the checking account total $27,200, while checks written by the company but not yet processed by the bank total $18,900. The company's balance of cash does not reflect a NSF check of $1,500, a service fee of $125 and interest earned of $25 and customer payments collected by the bank of $8,000; however, these amounts are included in the balance of cash of $184,300 reported by the bank as of the end of February Answer the following based on the process of doing the bank reconciliation: 9. $ Determine the total amount that is used to reconcile the Bank balance (include _ if needed): 10. $ _Determine the total amount that is used to reconcile the Company cash balance (include _ if needed) 11. $ What is the balance in the company's cash account after the reconciliation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Modern Approach

Authors: Sanjay Basotia

1st Edition

938092903X, 978-9380929033

More Books

Students also viewed these Accounting questions

Question

1. What kind of subjects are covered in each blog?

Answered: 1 week ago

Question

e. What difficulties did they encounter?

Answered: 1 week ago