Basel Company is unable to reconcile the bank balance a January 31. Basels reconciliation is as follows.
Question:
Cash balance per bank ............ CHF3.560.20
Add: NSF check ............... 690.00
Less: Bank service charge .......... 25.00
Adjusted balance per bank .......... CHF4.225.20
Cash balance per books ............ CHF3.875.20
Less: Deposits in transit ........... 530.00
Add: Outstanding checks .......... 930.00
Adjusted balance per books ......... CHF4.275.20
Instructions
(a) Prepare a correct hank reconciliation.
(b) Journalize the entries required by the reconciliation.
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Step by Step Answer:
a Cash balance per bank statement CHF356020 Add Deposits in transit 53000 40902...View the full answer
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Related Book For 
Financial accounting
ISBN: 978-1118285909
IFRS Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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