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problem: Prepare a bank Reconciliation as of August 31 from the following data;

The august 31 balance shown on the bank statement is $9,810 There is a deposit in transit of 1,260 at August 31 Outstanding checks at august 31 totaled 1890 Interest credited to the account during august but not recorded on the firm’s book amounted to 108 A ban charge of $36 for check was made to the account during august. Although the firm was expecting a charge, its amount was not known until the bank statement arrived In the process of reviewing the canceled checks, it was determined that the checks issued to a supplier in payments of account payable of $631 had been recorded as a disbursement of $361 The august 31 balance in the general ledger Cash account before reconciliations is 9378

[A] find out beginning balance per the bank?

[B] find out beginning balance per the books?

[C] find out the total amounts of outstanding checks?

[D] find out total amount of deposits in transits?

[E] find out total amount of the interest earned?

[F] find out total amount of the errors?

[G] find out adjusted or reconciled balance per the bank?

[H] find out adjusted or reconciled balance per the books?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921678

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