E8.9 (LO 3) Don Wyatt is unable to reconcile the bank balance at January 31. Don's reconciliation is as follows. Prepare bank reconciliation and adjusting entries. Cash balance per bank Add: NSF check $3,560.20 490.00 Less: Bank service charge 25.00 Adjusted balance per bank $4,025.20 Cash balance per books $3,875.20 530.00 Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,075.20 730.00 Instructions a. Prepare a correct bank reconciliation. b. Journalize the entries required by the reconciliation.
E8.9 (LO 3) Don Wyatt is unable to reconcile the bank balance at January 31. Don's reconciliation is as follows. Prepare bank reconciliation and adjusting entries. Cash balance per bank Add: NSF check $3,560.20 490.00 Less: Bank service charge 25.00 Adjusted balance per bank $4,025.20 Cash balance per books $3,875.20 530.00 Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,075.20 730.00 Instructions a. Prepare a correct bank reconciliation. b. Journalize the entries required by the reconciliation.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 18P
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Transcribed Image Text:QUESTION 4
E8.9
E8.9 (LO 3) Don Wyatt is unable to reconcile the bank balance at January 31. Don's
reconciliation is as follows.
Prepare bank reconciliation and adjusting entries.
Cash balance per bank
$3,560.20
Add: NSF check
490.00
Less: Bank service charge 25.00
Adjusted balance per bank $4,025.20
$3,875.20
Cash balance per books
Less: Deposits in transit
Add: Outstanding checks
530.00
730.00
Adjusted balance per books $4,075.20
Instructions
a. Prepare a correct bank reconciliation.
b. Journalize the entries required by the reconciliation.
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