The following data was collected for use in reconciling Photo Op. Company's bank account: Balance by bank
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Question:
The following data was collected for use in reconciling Photo Op. Company's bank account:
Balance by bank | $ 11,780 |
Balance for company records | 9,825 |
bank service charges | 55 |
Deposit in transit | 1,730 |
cheque NSF | 640 |
outstanding checks | 4,380 |
a. What is the adjusted balance on the bank reconciliation?
b. Journalize any necessary entries for Photo Op. Company based on bank reconciliation. For a compound transaction, if an amount box does not require an entry, leave it blank.
Related Book For
Financial and Managerial Accounting
ISBN: 978-1337119207
14th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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