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Using the following information: The bank statement balance is $4,045. The cash account balance is $4,474. Outstanding checks amounted to $769. Deposits in transit are
Using the following information:
- The bank statement balance is $4,045.
- The cash account balance is $4,474.
- Outstanding checks amounted to $769.
- Deposits in transit are $1,121.
- The bank service charge is $68.
- A check for $34 for supplies was recorded as $25 in the ledger.
Prepare a bank reconciliation for Candace Co. for May 31.
Candace Co. Bank Reconciliation May 31 | ||
Cash balance according to bank statement | $ | |
Adjustments: | ||
$ | ||
Total adjustments | ||
Adjusted balance | $ | |
Cash balance according to company's records | $ | |
Adjustments: | ||
$ | ||
Total adjustments | ||
Adjusted balance |
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