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Frying Nemo, a British-style fish and chips pub, is reconciling its accounts at the end of March, 2024. The bank statement indicates a balance of $27,100 while the accounting records show a balance of $31,615. Prepare the bank reconciliation in the table below based on the following: . Outstanding checks total $7,000 Deposits in transit total $1,000 Interest earned on the bank balance during the month totaled $35 The bank returned an NSF check for $6,500 originally taken for payment of accounts receivable. A check cleared the bank for $2,000 but had mistakenly been recorded in the books as a $2,000 debit to cash instead of a $2,000 credit. Bank service charges for the month totaled $50 NOTE: Enter additions as positive amounts and deductions as negative amounts. Be sure to select appropriate descriptions for each amount from the drop-down list. Different than your homework, you do not need to place additions and deductions in separate sections of the reconciliation. You are not required to record any adjusting journal entries that may result from the reconciliation process. 1 Frying Nemo 2 Bank Reconciliation 3 for the month ended 3/31/2024 4 Book Side Bank Side 5 Balance per books: Balance per bank: 6 7 8 6 11 Correct cash balance: $ 0 Correct Cash balance $ 10

Frying Nemo, a British-style fish and chips pub, is reconciling its accounts at the end of March, 2024. The bank statement indicates a balance of $27,100 while the accounting records show a balance of $31,615. Prepare the bank reconciliation in the table below based on the following: . Outstanding checks total $7,000 Deposits in transit total $1,000 Interest earned on the bank balance during the month totaled $35 The bank returned an NSF check for $6,500 originally taken for payment of accounts receivable. A check cleared the bank for $2,000 but had mistakenly been recorded in the books as a $2,000 debit to cash instead of a $2,000 credit. Bank service charges for the month totaled $50 NOTE: Enter additions as positive amounts and deductions as negative amounts. Be sure to select appropriate descriptions for each amount from the drop-down list. Different than your homework, you do not need to place additions and deductions in separate sections of the reconciliation. You are not required to record any adjusting journal entries that may result from the reconciliation process. 1 Frying Nemo 2 Bank Reconciliation 3 for the month ended 3/31/2024 4 Book Side Bank Side 5 Balance per books: Balance per bank: 6 7 8 6 11 Correct cash balance: $ 0 Correct Cash balance $ 10

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
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Frying Nemo, a British-style fish and chips pub, is reconciling its accounts at the end of March, 2024. The bank statement indicates a balance of $27,100 while the accounting records show a balance of $31,615. Prepare the bank reconciliation in the table below based on the following: . Outstanding checks total $7,000 Deposits in transit total $1,000 Interest earned on the bank balance during the month totaled $35 The bank returned an NSF check for $6,500 originally taken for payment of accounts receivable. A check cleared the bank for $2,000 but had mistakenly been recorded in the books as a $2,000 debit to cash instead of a $2,000 credit. Bank service charges for the month totaled $50 NOTE: Enter additions as positive amounts and deductions as negative amounts. Be sure to select appropriate descriptions for each amount from the drop-down list. Different than your homework, you do not need to place additions and deductions in separate sections of the reconciliation. You are not required to record any adjusting journal entries that may result from the reconciliation process. 1 Frying Nemo 2 Bank Reconciliation 3 for the month ended 3/31/2024 4 Book Side Bank Side 5 Balance per books: Balance per bank: 6 7 8 6 11 Correct cash balance: $ 0 Correct Cash balance $ 10
Transcribed Image Text:Frying Nemo, a British-style fish and chips pub, is reconciling its accounts at the end of March, 2024. The bank statement indicates a balance of $27,100 while the accounting records show a balance of $31,615. Prepare the bank reconciliation in the table below based on the following: . Outstanding checks total $7,000 Deposits in transit total $1,000 Interest earned on the bank balance during the month totaled $35 The bank returned an NSF check for $6,500 originally taken for payment of accounts receivable. A check cleared the bank for $2,000 but had mistakenly been recorded in the books as a $2,000 debit to cash instead of a $2,000 credit. Bank service charges for the month totaled $50 NOTE: Enter additions as positive amounts and deductions as negative amounts. Be sure to select appropriate descriptions for each amount from the drop-down list. Different than your homework, you do not need to place additions and deductions in separate sections of the reconciliation. You are not required to record any adjusting journal entries that may result from the reconciliation process. 1 Frying Nemo 2 Bank Reconciliation 3 for the month ended 3/31/2024 4 Book Side Bank Side 5 Balance per books: Balance per bank: 6 7 8 6 11 Correct cash balance: $ 0 Correct Cash balance $ 10
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