Identify the errors in the following bank reconciliation: Poway Co. Bank Reconciliation For the Month Ended June
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Poway Co. Bank Reconciliation For the Month Ended June 30, 2016 Cash balance according to bank statement Add outstanding checks: $16,185 No. 1067 1106 1110 1113 S 575 470 1,050 Deduct deposit of June 30, not recorded by bank Adjusted balance Cash balance according to company's records Add: Proceeds of note collected by bank: 910 3,005 $19,190 6,600 $12,590 S 8,985 Principal Interest. 6,000 -30으 s6300 Service charges 156.315 $15,300 890 5,4006,290 Deduct: Check returned because of insufficient funds Error in recording June 17 deposit of $7,150 as $1,750 Adjusted balance 9,010
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1 The heading should be June 30 2016 and not For the Month Ended June 30 2016 2 The outstanding chec...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
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