Your assistant prepared the following bank reconciliation statement. It appears that the statement is unacceptable and...

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Your assistant prepared the following bank reconciliation statement. It appears that the statement is unacceptable and the task of preparing a proper reconciliation falls upon you Balance per books May 31 Add: Electronic Fund Transfer Deposit in transit Brandon Company Bank Reconciliation May 31, 2020 $ 9,545 $1,087 2,482 3,569 $13,114 Deduct: Bank charges NSF cheque, Rhonda Teal Outstanding cheques Error In cheque #78: correctly issued and processed by the bank for $780, but incorrectly recorded In the books as $735 (Accounts Payable-Delta Co.) Indicated bank balance Balance per bank statement Discrepancy $ 19 518 1,827 Required: 1. Prepare a proper bank reconciliation showing the true Cash balance. Balance per books Company's Books BRANDON COMPANY Bank Reconciliation May 31, 20201 Balance par bank Add: Add 45 2,409 $10,705 9,395 $ 1,310 Bank Statement Your assistant prepared the following bank reconciliation statement. It appears that the statement is unacceptable and the task of preparing a proper reconciliation falls upon you Balance per books May 31 Add: Electronic Fund Transfer Deposit in transit Brandon Company Bank Reconciliation May 31, 2020 $ 9,545 $1,087 2,482 3,569 $13,114 Deduct: Bank charges NSF cheque, Rhonda Teal Outstanding cheques Error In cheque #78: correctly issued and processed by the bank for $780, but incorrectly recorded In the books as $735 (Accounts Payable-Delta Co.) Indicated bank balance Balance per bank statement Discrepancy $ 19 518 1,827 Required: 1. Prepare a proper bank reconciliation showing the true Cash balance. Balance per books Company's Books BRANDON COMPANY Bank Reconciliation May 31, 20201 Balance par bank Add: Add 45 2,409 $10,705 9,395 $ 1,310 Bank Statement

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Answer To prepare a proper bank reconciliation statement we need to compare the balance per books as ... View the full answer