Identify the errors in the following bank reconciliation. Prepare a corrected bankreconciliation. Imaging Services Co Bank Reconciliation
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Imaging Services Co Bank Reconciliation For the Month Ended April 30, 2008 Cash balance according to bank statement Add outstanding checks: S9,767.76 No. 821 839 843 844 345.95 272.75 759.60 501.50 1,879.80 $11,647.56 1,010.06 9,637.50 Deduct deposit of April 30, not recorded by bank Adjusted balance Cash balance according to company's records Add: Proceeds of note collected by bank: 1,118.32 Principal Interest 8,000.00 280.00 $8,280.00 18.00 Service charges 8,298.00 9,416.32 Deduct: Check returned because of insufficient funds 752.30 Error in recording Apri 10 deposit of $4,850 as $4,580 270.00 1,022.30 ! Adjusted balance 8,394.02
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Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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