Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using the following information, prepare a bank reconciliation for Sheridan Company for July 31, 2022. a. The bank statement balance is $3,520. b. The cash
Using the following information, prepare a bank reconciliation for Sheridan Company for July 31, 2022. a. The bank statement balance is $3,520. b. The cash account balance is $3,960. C. Outstanding checks totaled $1,270. d. Deposits in transit are $1,650. e. The bank service charge is $51. f. A check for $87 for supplies was recorded as $78 in the ledger. Sheridan Company Bank Reconciliation July 31, 2022 Cash Balance Per Bank Add Deposit in Transit Less Outstanding Checks Adjusted Cash Balance Per Bank Cash Balance Per Books Less Check for Supplies Error Bank Service Charge Adjusted Cash Balance Per Books $ 3,520 1,650 5170 3,960
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