The following bank reconciliation was prepared as of June 30, 20Y7: A. Identify the errors in the
Question:
A. Identify the errors in the bank reconciliation.
B. Prepare a corrected bank reconciliation.
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Poway Co. Bank Reconciliation For the Month Ended June 30, 20Y7 $16,185 Cash balance according to bank statement...... . . . . . .. . .. . . Adjustments 470 1,050 Deposit of June 30 not recorded by bank (6,600) . . . .. . (3,595) $12,590 8,985 Adjustments Proceeds of note collected by bank: Face value.... .. . . . .. . .. . .. . $ 6,000 Check returned because of insufficient funds...... _ _ _. . . . . . . . . ..(890) Error in recording June 17 deposit of $7,150 as $1,750 (5,400) 25 9,010
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A 1 The heading should be June 30 20Y7 and not For the Month Ended June 30 20Y7 2 The outstanding ch...View the full answer
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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