Carol Sells is unable to reconcile the bank balance at January 31. Carol's reconciliation is shown...
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Carol Sells is unable to reconcile the bank balance at January 31. Carol's reconciliation is shown as follows. Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,567.20 480.00 36.00 $5,011.20 $4,865.20 582.00 800.00 $5,083.20 Prepare a tabular analysis for the adjustments required to reach the adjusted cash balance per books. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Carol Sells is unable to reconcile the bank balance at January 31. Carol's reconciliation is shown as follows. Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,567.20 480.00 36.00 $5,011.20 $4,865.20 582.00 800.00 $5,083.20 Prepare a tabular analysis for the adjustments required to reach the adjusted cash balance per books. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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Answer Carol Sells Bank Reconciliation Jan31 Bank sta... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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