Basel Company is unable to reconcile the bank balance at January 31. Basels reconciliation is as follows.

Question:

Basel Company is unable to reconcile the bank balance at January 31. Basel’s reconciliation is as follows.

Cash balance per bank CHF3,660.20
Add: NSF check 590.00
Less: Bank service charge 25.00

Adjusted balance per bank CHF4,225.20

Cash balance per books CHF3,825.20
Less: Deposits in transit 480.00
Add: Outstanding checks 930.00
Adjusted balance per books CHF4,275.20

Instructions
(a) Prepare a correct bank reconciliation.
(b) Journalize the entries required by the reconciliation.

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Financial Accounting IFRS

ISBN: 978-1118285909

2nd edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Jul 19, 2018 06:07 AM

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Basel Company is unable to reconcile the bank balance at January 31. Basels reconciliation is as follows.

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a Cash balance per bank statement CHF366020 Add Deposits in t...View the full answer

Financial Accounting IFRS

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