The May 31, 2012, balance per bank statement for Upton Company was $7,200. The cash balance per
Question:
The May 31, 2012, balance per bank statement for Upton Company was $7,200. The cash balance per books was $9,500. Outstanding checks amounted to $800, and deposits in transit were $2,400. The bank statement contained an NSF check for $500, a service charge for $25, and a debit memo for direct payment of the telephone bill of $175.
Required:
Prepare a bank reconciliation to determine the true cash balance at May 31, 2012.
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Bank Reconciliation Statement Cash Balance as per bank statement 7...View the full answer
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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