The Cash account of SWITZERSWITZER Ltd. reported a balance of $ 2 comma 500$2,500 at AugustAugust 3131,
Question:
The Cash account of SWITZERSWITZER Ltd. reported a balance of $ 2 comma 500$2,500 at AugustAugust 3131, 20202020. Included were outstanding cheques totalling $ 900$900 and an August 31deposit of $ 500$500 that did not appear on the bank statement. The bank statement, which came from HSBCHSBC Bank, listed an AugustAugust 3131, 20202020, balance of $ 3 comma 405$3,405. Included in the bank balance was an AugustAugust 30 collection of $ 550$550 on account from a customer who pays the bank directly. The bank statement also shows a $ 20$20 service charge, $ 10$10 of interest revenue that SWITZERSWITZER earned on its bank balance, and an NSF cheque for $ 35$35.
Prepare a bank reconciliation to determine how much cash SWITZERSWITZER actually has at August 31 comma 2020August 31, 2020.\
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin