Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are the accountant for Georgia Company and you have recently received the bank statement for your company's account and need to reconcile it with

image text in transcribed
image text in transcribed
You are the accountant for Georgia Company and you have recently received the bank statement for your company's account and need to reconcile it with your general ledger cash account. Georgia's records show an ending balance for the month of $12,742,40 while the bank's records show an ending balance of $12,254.76. The bank charged $7.30 in service fees and paid $26.95 in interest All but three checks written during the month were processed by the bank without incident during the month. The three exceptions were: Check #841 was correctly processed by the bank as $861.27 but was mistakenly recorded by you as $561.27 Check #853 for $68.57 had not yet been processed by the bank. Check #855 for $663.46 had not yet been processed by the bank, All but two of the deposits made during the month were processed by the bank without incident. The two exceptions were: A customer check for $319.95, which had been deposited during the month, was returned NSF. A deposit totaling $619.37 had not yet been processed by the bank. Updates to Bank Statement Ending Cash Balance por Bank Statement Additions: Bank Reconciliation Updates to Company's Books Ending Cash Balance por Books Additions: Deductions: Deductions: Up-to-date ending cash balance Up-to-date ending cash 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

Step: 3

blur-text-image

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

Rethinking Public Private Partnerships

Authors: Mervyn K. Lewis

1st Edition

1789906393, 9781789906394

More Books

Students also viewed these Accounting questions

Question

Evaluate the integrals in Problem. 5 dx/e 4x

Answered: 1 week ago

Question

specify some main features of the worlds labour force;

Answered: 1 week ago

Question

12.6 Analyze the emerging emphasis on employee recognition.

Answered: 1 week ago