The balance in Happ Inc.s general ledger Cash account was $16,200 at August 31, before reconciliation. The
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The balance in Happ Inc.’s general ledger Cash account was $16,200 at August 31, before reconciliation. The August 31 balance shown in the bank statement was $14,900. Reconciling items included deposits in transit, $2,100; bank service charges, $100; NSF check written by a customer and returned with the bank statement, $650; outstanding checks, $1,500; and interest credited to the account during September but not recorded on the company’s books, $50.
Required:
Prepare a bank reconciliation as of August 31 for Happ Inc.
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Balance per bank Add Deposit in transit 1490...View the full answer
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