Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using the following information, prepare a bank reconciliation for Bistro Company for May 31,2022 . The bank balance is $3,450 and the cash ledger balance
Using the following information, prepare a bank reconciliation for Bistro Company for May 31,2022 . The bank balance is $3,450 and the cash ledger balance is $4,045. The following differences were identified: 1. Outstanding checks totaled $1,240. 2. Deposits in transit are $1,610 3. The bank service charge is $55. 4. A check for $94 for supplies was recorded as $49 in the ledger. 5. There was an NSF check for $125. Instructions: 1) Prepare a Bank Reconciliation for the month of May, 2022 (side-by-side or topbottom format) (14 points) 2) Journalize the adjustments for the book entries. (6 points)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started