Question: Bank reconciliation Prepare a bank reconciliation as of August 31

Bank reconciliation. Prepare a bank reconciliation as of August 31 from the following information:
a. The August 31 balance shown on the bank statement is $4,905.
b. There is a deposit in transit of $630 at August 31.
c. Outstanding checks at August 31 totaled $945.
d. Interest credited to the account during August but not recorded on the company's books amounted to $54.
e. A bank charge of $28 for checks was made to the account during August.
Although the company was expecting a charge, its amount was not known until the bank statement arrived.
f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $759 had been recorded as a disbursement of $579.
g. The August 31 balance in the general ledger Cash account, before reconciliation, is $4,744.

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  • CreatedOctober 05, 2013
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