Question: Identify the errors in the following bankreconciliation: Poway CO. Bank Reconciliation For the Month Ended June 30, 2014 Cash balance according to bank statement Add

Identify the errors in the following bankreconciliation:

Poway CO. Bank Reconciliation For the Month Ended June 30, 2014 Cash balance according to bank statement Add outstanding checks: $16,185 575 470 1,050 910 3,005 $19,190 6,600 $12,590 8,985 Deduct deposit of June 30, not recorded by bank...... . Cash balance according to company's records Add: Proceeds of note collected by bank: Principa. . . Interest.... vice Charges....-..--....--..-. $6,000 300 $6,300 15 6,315 $15,300 Deduct: Check returned because of insufficient funds.......... 890 Error in recording June 17 deposit of $7,150 as S1,750. 5400 6,290 9,010

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