Using the following information, prepare a bank reconciliation for ABC Company for July 31, 20XX. a....

  

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Using the following information, prepare a bank reconciliation for ABC Company for July 31, 20XX. a. The bank statement balance is $3,506. b. The cash account balance is $3,930 c. Outstanding checks totaled $1,285. d. Deposits in transit are $1,670. e. The bank service charge is $30. f. A check for $98 for supplies was recorded as $89 in the ledger How can we reconcile item #d ( deposits in transit)? O deduct from book balance add to bank balance deduct form bank balance add to book balance 5 Question 8 (8 points) Using the following information, prepare a bank reconciliation for ABC Company for July 31, 20XX. a. The bank statement balance is $3,506. b. The cash account balance is $3,930 c. Outstanding checks totaled $1,285. d. Deposits in transit are $1,670. e. The bank service charge is $30. f. A check for $98 for supplies was recorded as $89 in the ledger How can we reconcile item #f (check error)? deduct to book balance add to bank balance add to book balance deduct to bank balance Using the following information, prepare a bank reconciliation for ABC Company for July 31, 20XX. a. The bank statement balance is $3,506. b. The cash account balance is $3,930 c. Outstanding checks totaled $1,285. d. Deposits in transit are $1,670. e. The bank service charge is $30. f. A check for $98 for supplies was recorded as $89 in the ledger How can we reconcile item #d ( deposits in transit)? O deduct from book balance add to bank balance deduct form bank balance add to book balance 5 Question 8 (8 points) Using the following information, prepare a bank reconciliation for ABC Company for July 31, 20XX. a. The bank statement balance is $3,506. b. The cash account balance is $3,930 c. Outstanding checks totaled $1,285. d. Deposits in transit are $1,670. e. The bank service charge is $30. f. A check for $98 for supplies was recorded as $89 in the ledger How can we reconcile item #f (check error)? deduct to book balance add to bank balance add to book balance deduct to bank balance

Answer rating: 100% (QA)

Solution 1 The correct answer is b ... View the full answer