The Cash account of Ranger Security Systems reported a balance of $2,480 at May 31, 2014. There

Question:

The Cash account of Ranger Security Systems reported a balance of $2,480 at May 31, 2014. There were outstanding cheques totalling $900 and a May 31 deposit in transit of $200. The bank statement, which came from Royal Bank, listed a May 31 balance of $3,800. Included in the bank balance was a collection of $630 on account from Kelly Brooks, a Ranger customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Ranger earned on its bank balance.

Prepare Ranger's bank reconciliation at May 31, 2014.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Accounting Volume 1

ISBN: 978-0132690096

9th Canadian edition

Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood

Question Posted: