You are preparing a bank reconciliation. At the end of the month, your company had $16,986...
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You are preparing a bank reconciliation. At the end of the month, your company had $16,986 in cash according to its accounting records. During the month, the following transactions took place. For each of the following entries, do you adjust your cash balance per books, and, if so, do you add or subtract the amount from the book balance. Finally, calculate the adjusted book balance. 1. A $1,605 cheque from a customer was deposited to the company's bank account. The cheque did not clear and was returned by the bank because of insufficient funds. + 2. The company deposited $1,465 to the bank account but the transaction was not reported on the bank statement. ✪ 3. A customer deposited $2,430 via electronic funds transfer to the company's bank account to pay an outstanding invoice. O 4. A company cheque for $1,235 was written to a supplier. The cheque amount was correct and was correctly recorded in the bank statement. According to the accounting records, $1,324 was deducted from cash. + 5. What is the adjusted bank balance, after reconciliation (whole number without comma or $ sign, e.g. 10000)? You are preparing a bank reconciliation. At the end of the month, your company had $16,986 in cash according to its accounting records. During the month, the following transactions took place. For each of the following entries, do you adjust your cash balance per books, and, if so, do you add or subtract the amount from the book balance. Finally, calculate the adjusted book balance. 1. A $1,605 cheque from a customer was deposited to the company's bank account. The cheque did not clear and was returned by the bank because of insufficient funds. + 2. The company deposited $1,465 to the bank account but the transaction was not reported on the bank statement. ✪ 3. A customer deposited $2,430 via electronic funds transfer to the company's bank account to pay an outstanding invoice. O 4. A company cheque for $1,235 was written to a supplier. The cheque amount was correct and was correctly recorded in the bank statement. According to the accounting records, $1,324 was deducted from cash. + 5. What is the adjusted bank balance, after reconciliation (whole number without comma or $ sign, e.g. 10000)?
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Bank reconciliation statement Amount Amount 16986 Particulars Balances as per cash book ... View the full answer
Related Book For
College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
Posted Date:
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