Bob Vance is unable to reconcile the bank balance at January 31. Bobs reconciliation is as follows.
Question:
Cash balance per bank $3,560.20
Add: NSF check 690.00
Less: Bank service charge 25.00
Adjusted balance per bank $4,225.20
Cash balance per books $3,875.20
Less: Deposits in transit 530.00
Add: Outstanding checks 930.00
Adjusted balance per books $4,275.20
Instructions
(a) Prepare a correct bank reconciliation.
(b) Journalize the entries required by the reconciliation.
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Step by Step Answer:
a Cash balance per bank statement 356020 Add Deposits in transit 53000 40902...View the full answer
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Related Book For 
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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