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Using the following information: The bank statement balance is $3,751. The cash account balance is $4,215. Outstanding checks amounted to $756. Deposits in transit are
Using the following information:
- The bank statement balance is $3,751.
- The cash account balance is $4,215.
- Outstanding checks amounted to $756.
- Deposits in transit are $1,151.
- The bank service charge is $60.
- A check for $56 for supplies was recorded as $47 in the ledger.
Prepare a bank reconciliation for Candace Co. for May 31.
Cash balance according to bank statement | $fill in the blank 1 | |
Adjustments: | ||
Bank service chargeDeposits in transit not recorded by bankError in recording check | $- Select - | |
Bank service chargeError in recording checkOutstanding checks | - Select - | |
Total adjustments | fill in the blank 6 | |
Adjusted balance | $fill in the blank 7 | |
Cash balance according to company's records | $fill in the blank 8 | |
Adjustments: | ||
Bank service chargeDeposits in transit not recorded by bankOutstanding checks | $- Select - | |
Deposits in transit not recorded by bankError in recording checkOutstanding checks | - Select - | |
Total adjustments | fill in the blank 13 | |
Adjusted balance | $ |
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