The following data were accumulated for use in reconciling the bank account of Nakajima Co. for...
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The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: 1. Cash balance according to the company's records at July 31, $14,570. 2. Cash balance according to the bank statement at July 31, $15,460. 3. Checks outstanding, $2,960. 4. Deposit in transit, not recorded by bank, $2,370. 5. A check for $590 issued in payment of an account was erroneously recorded in the check register as $950. 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 12. Nakajima Co. Bank Reconciliation July 31 Cash balance according to bank statement Add deposit in transit, not recorded by bank ✔ Deduct outstanding checks ✔ Adjusted balance Cash balance according to company's records Add error in recording check $950 instead of $590 Deduct bank service charge Adjusted balance The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July: 1. Cash balance according to the company's records at July 31, $14,570. 2. Cash balance according to the bank statement at July 31, $15,460. 3. Checks outstanding, $2,960. 4. Deposit in transit, not recorded by bank, $2,370. 5. A check for $590 issued in payment of an account was erroneously recorded in the check register as $950. 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 12. Nakajima Co. Bank Reconciliation July 31 Cash balance according to bank statement Add deposit in transit, not recorded by bank ✔ Deduct outstanding checks ✔ Adjusted balance Cash balance according to company's records Add error in recording check $950 instead of $590 Deduct bank service charge Adjusted balance
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Related Book For
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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