Question
You are preparing a bank reconciliation. At the end of the month, cash in the company bank account was $12,869. According to the bank and
You are preparing a bank reconciliation. At the end of the month, cash in the company bank account was $12,869. According to the bank and accounting records, the following transactions took place. For each of the following transactions, do you adjust your cash balance per bank in the account reconciliation, and, if so, do you add or subtract the amount from that balance? Finally, calculate the adjusted cash balance. 1. A company cheque for $1,054, was mailed during the month to a supplier. The cheque hadnt cleared the bank by the end of the month. Answer 2. A $605 cheque from a customer was deposited during the month to the bank account. The cheque did not clear and was returned by the bank because of insufficient funds. Answer 3. The company deposited $2,865 to the bank account but the transaction was not reported on the bank statement. Answer 4. A company cheque for $895 was mailed to a supplier. The cheque amount was correct and was correctly recorded in the accounting system. According to the bank statement, $985 was deducted from the companys chequing account. Answer 5. What is the adjusted bank balance, after reconciliation (whole number without comma or $ sign, e.g. 10000)? Answer
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