Lisa Ceja is unable to reconcile the bank balance for her catering company on January 31. Lisas
Question:
Lisa Ceja is unable to reconcile the bank balance for her catering company on January 31. Lisa’s reconciliation is as follows:
Cash balance per bank .........$3,660.20
Add: NSF check ........... 590.00
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
(a) Prepare a correct bank reconciliation.
(b) Journalize the entries required by the reconciliation.
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a Cash balance per bank statement 366020 Add Deposits in transit 53000 419020 Less Outstanding ...View the full answer
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Related Book For 
Hospitality Financial Accounting
ISBN: 978-0470083604
2nd Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.
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