Your client provides you with a bank reconciliation with the following reconciling items: Amount Remark 1,050,000...
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Your client provides you with a bank reconciliation with the following reconciling items: Amount Remark 1,050,000 (155,780) Sent out on 30 December 20XX and cleared on 10 January 20XX+1 1,000 (4,100) Balance per the bank statement Outstanding cheque Bank charges Interest income Unknown Balance per cash ledger 108,880 1,000,000 A duplicate payment of 108,880 incorrectly made by the bank on 22 December 20XX. What should be the net adjustment to the bank balance in the ledger? Your client provides you with a bank reconciliation with the following reconciling items: Amount Remark 1,050,000 (155,780) Sent out on 30 December 20XX and cleared on 10 January 20XX+1 1,000 (4,100) Balance per the bank statement Outstanding cheque Bank charges Interest income Unknown Balance per cash ledger 108,880 1,000,000 A duplicate payment of 108,880 incorrectly made by the bank on 22 December 20XX. What should be the net adjustment to the bank balance in the ledger?
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To find the net adjustment to the bank balance in the ledger we need to identify the reconciling ite... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
Posted Date:
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