The following data were accumulated for use in reconciling the bank account of Spectrum Co. for July:

Question:

a. Cash balance according to the company's records at July 31, $8,346.50.

b. Cash balance according to the bank statement at July 31, $9,066.35.

c. Checks outstanding, $3,175.25.

d. Deposit in transit, not recorded by bank, $2,615.40.

e. A check for $240 in payment of an account was erroneously recorded in the check register as $420.

f. Bank debit memorandum for service charges, $20.00.

Prepare a bank reconciliation, using the format shown in Exhibit 7.

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Accounting

ISBN: 978-0324401844

22nd Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Jul 17, 2012 03:07 AM

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The following data were accumulated for use in reconciling the bank account of Spectrum Co. for July:

Question:

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SPECTRUM CO Bank Reconciliation July 31 20 Cash balance ...View the full answer

Accounting

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