Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the following information, prepare a bank reconciliation for Cole Co. for April 30, 2020. Note: Similar to what we did in class, you must

image text in transcribed
image text in transcribed
image text in transcribed
Using the following information, prepare a bank reconciliation for Cole Co. for April 30, 2020. Note: Similar to what we did in class, you must indicate what it is that you are adding/deducting, such as outstanding cheques, and not just add/subtract numbers as you need to show your logic. The balance per bank and balance per general ledger have already been included for you. a. The bank statement balance is $2,936. b. The cash account balance is $3,194. c. Outstanding cheques amounted to $465. d. Deposits in transit are $655. e. The bank service charge is $50. f. A cheque for $97 for supplies was incorrectly recorded as $79 in the general journal and ledger. $2,936 Balance per Bank Add Deduct Reconciled Balance Balance per general ledger (books) $3.194 Ada $3,194 Balance per general ledger (books) Add Deduct Reconciled Balance

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_2

Step: 3

blur-text-image_3

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

Audit Proofing Your Return

Authors: Jr. Wade, Jack Warren

1st Edition

002622240X, 978-0026222402

More Books

Students also viewed these Accounting questions

Question

=+c. Now rewrite the sales message. The daily

Answered: 1 week ago

Question

hbbb

Answered: 1 week ago