Question: Use the following data to answer the next 5 questions. A partially completed bank reconciliation for Dave Company at March 31, as well as additional
Use the following data to answer the next 5 questions.
A partially completed bank reconciliation for Dave Company at March 31, as well as additional data necessary to answer the questions, which follow.
DAVE COMPANY
Bank Reconciliation
March 31, 2008
| Balance per books............................ | $10,000 |
| Add: | (1) |
| Deduct: | (2) |
| Adjusted cash balance....................... | $___________ |
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|
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| Balance per bank statement................ | $6,970 |
| Add: | (3) |
| Deduct: | (4) |
| Adjusted cash balance....................... | $_____________ |
Additional information:
a.An NSF check of Martin Barry, one of Daves customers, was returned by the bank; amount was $1,000.
b.Bank service charge for March, 2008, $30.
c.Check no. 9 (for supplies) was written for $500 but erroneously recorded in Dave records as $400.
d.Deposits in transit at March 31, 2008, totaled $7,000.
e.Interest earned on the account, $100.
f.Note collected by the bank and credited to Daves account, $2,000.
g.Outstanding checks at March 31, 2008, totaled $3,000.
41. In Daves completed bank reconciliation at March 31, 2008, what dollar amount should be added to the balance per Daves records [indicated by (1) above]?
42. In Daves completed bank reconciliation at March 31, 2008, what dollar amount should be deducted from the balance per Daves records [indicated by (2) above]?
43. In Dave completed bank reconciliation at March 31, 2008, what dollar amount should be added to the balance per the bank statement [indicated by (3) above]?
44. In Daves completed bank reconciliation at March 31, 2008, what dollar amount should be deducted from the balance per the bank statement [indicated by (4) above]?
45. In Daves completed bank reconciliation at March 31, 2008, the adjusted cash balance would be:
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