Blue Company's bank reconciliation for January 31, 2020 does not balance. Cash balance per bank $5,300 Add: NSF check 1,490 Less: Bank service charge 25 Adjusted balance per bank $6,765 Cash balance per books $5,905 Less: Deposits in transit 950 Add: Outstanding checks 1,860 Adjusted balance per books $6,815
Blue Company's bank reconciliation for January 31, 2020 does not balance. Cash balance per bank $5,300 Add: NSF check 1,490 Less: Bank service charge 25 Adjusted balance per bank $6,765 Cash balance per books $5,905 Less: Deposits in transit 950 Add: Outstanding checks 1,860 Adjusted balance per books $6,815
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
Related questions
Question
Blue Company's bank reconciliation for January 31, 2020 does not balance.
| Cash balance per bank |
$5,300
|
|
| Add: NSF check |
1,490
|
|
| Less: Bank service charge |
25
|
|
| Adjusted balance per bank |
$6,765
|
|
| Cash balance per books |
$5,905
|
|
| Less: Deposits in transit |
950
|
|
| Add: Outstanding checks |
1,860
|
|
| Adjusted balance per books |
$6,815
|
(a)
Prepare a correct bank reconciliation. (List items that increase cash balance first.)
|
BLUE COMPANY
Bank Reconciliation For the Month Ended January 31, 2020January 31, 2020For the Year Ended January 31, 2020 |
|||||
| Cash balance per bank statementDeposits in transitBank service chargeNSF checkOutstanding checksAdjusted cash balance per bank |
$
|
||||
| LessAdd: | Cash balance per bank statementAdjusted cash balance per bankBank service chargeNSF checkDeposits in transitOutstanding checks |
|
|||
|
|
|||||
| LessAdd: | Bank service chargeAdjusted cash balance per bankCash balance per bank statementOutstanding checksNSF checkDeposits in transit |
|
|||
| Bank service chargeOutstanding checksCash balance per bank statementNSF checkDeposits in transitAdjusted cash balance per bank |
$
|
||||
| Outstanding checksNSF checkBank service chargeCash balance per booksDeposits in transitAdjusted cash balance per books |
$
|
||||
| AddLess: | |||||
| Bank service chargeDeposits in transitOutstanding checksCash balance per booksAdjusted cash balance per booksNSF check |
$
|
||||
| Outstanding checksCash balance per booksDeposits in transitNSF checkBank service chargeAdjusted cash balance per books |
|
||||
|
|
|||||
| Outstanding checksCash balance per booksDeposits in transitNSF checkAdjusted cash balance per booksBank service charge |
$
|
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