A. What is the adjusted balance on the bank reconciliation? B. On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.
A. What is the adjusted balance on the bank reconciliation? B. On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 3PEA
Related questions
Question
The following data were gathered to use in reconciling the bank account of Torres Company:
| Balance per bank | $9,295 |
| Balance per company records | 7,975 |
| Bank service charges | 30 |
| Deposit in transit | 2,295 |
| NSF check | 1,960 |
| Outstanding checks | 5,605 |
| Instructions | |
| A. | What is the adjusted balance on the bank reconciliation? |
| B. | On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles. |
Starting question
A. What is the adjusted balance on the bank reconciliation?
| B. | On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles. |
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