Joseph Lee's check register balance is $8,754.33. He compares his statement with his check register. He notes
Question:
Joseph Lee's check register balance is $8,754.33. He compares his statement with his check register. He notes that the bank paid him $2.86 in interest and deducted a $1.20 service charge for bill payment. He finds these outstanding checks and deposits: Check 845: $751.75 Check 847: $2,455.89 I Deposit:
David Cassadore received his bank statement and canceled checks for the period ending November 20. He compared the check register (Figure 4.9a) with the canceled checks and deposits listed on the statement (Figure 4.9b). Then he placed a check mark next to the items processed. He reconciled the bank statement (Figure 4.9c).
(a) What total amount does David have in outstanding checks?
(b) What total amount does he have in outstanding deposits?
(c) What is his adjusted balance?
(d) What is his new check register balanco?
(e) Do the register and adjusted balances agree?
Accounting Information Systems basic concepts and current issues
ISBN: 978-0078025334
3rd edition
Authors: Robert Hurt