Bank reconciliation on May 2, 2014 a client called you frantically because he just got a call from the bank manager stating the company bounced numerous checks. The client suspects that the new manager is stealing. You decide to do a bank reconciliation for April 2014 .upon completion the client calls and tells you he just found the deposit in the safe from two weeks ago that he recorded in his records forgot to bring to bank cash balance company records (includes deposits in safe) $1075 cash bal April 2044 bank statement (500) deposits in transit (does not include deposit in safe 3,000 checks outstanding 4,500 bank service charge 50 NSF checks from customers 500 customer note ($1,000 face value) collected by bank 1,200 additional information Chech # 1075 (a payment to staples) cleared the bank in the correct amount of $75, but the company recorded the payment as $57 in the journal a deposit in the amount of $606 was incorrectly recorded by the bank as $660

a. Please compute the adjusted cash flow balance for the bank statement

b. What is the amount of the deposit that he client found in the safe.

Answer rating: 100% (QA)

a Bank balance as per April ... View the full answer