Question: Question Content Area Using the following information: The bank statement balance is $4,333. The cash account balance is $4,601. Outstanding checks amounted to $834. Deposits

Question Content Area

Using the following information:

  1. The bank statement balance is $4,333.
  2. The cash account balance is $4,601.
  3. Outstanding checks amounted to $834.
  4. Deposits in transit are $1,021.
  5. The bank service charge is $72.
  6. A check for $37 for supplies was recorded as $28 in the ledger.

Prepare a bank reconciliation for Candace Co. for May 31.

Candace Co. Bank Reconciliation May 31
Cash balance according to bank statement $fill in the blank 1
Adjustments:

Bank service chargeDeposits in transit not recorded by bankError in recording check

$- Select -

Bank service chargeError in recording checkOutstanding checks

- Select -
Total adjustments fill in the blank 6
Adjusted balance $fill in the blank 7
Cash balance according to company's records $fill in the blank 8
Adjustments:

Bank service chargeDeposits in transit not recorded by bankOutstanding checks

$- Select -

Deposits in transit not recorded by bankError in recording checkOutstanding checks

- Select -
Total adjustments fill in the blank 13
Adjusted balance $fill in the blank 14

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