An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31

Question:

An accounting clerk for Chesner Co. prepared the following bank reconciliation:
Chesner Co.
Bank Reconciliation
August 31

a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in the illustrative problem.
b. If a balance sheet is prepared for Chesner Co. on August 31, what amount should be reported for cash?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...