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Problem 1 of 2: Using the following information, prepare a bank reconciliation for the end of September. Bank balance (September 30): $6,988 Book balance (September 30): S6,626 Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense. Record your responses in the shaded boxes below (blue boxes are for descriptions and orange boxes are for dollar amounts): ----- Bank statement balance at September 30: 6988 Book balance at September 30: 6626 Add: Deposit in transit Bank error Less: Add: 1600 Check Error 90 75 Less: Outstanding checks Adjusted bank balance 2022 Bank service Charge 75 6641 Adjusted book balance 6641 Problem 2 of 2: Record the journal entries that are necessary after completing the bank reconciliation (record answers in the grey boxes)

Problem 1 of 2: Using the following information, prepare a bank reconciliation for the end of September. Bank balance (September 30): $6,988 Book balance (September 30): S6,626 Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense. Record your responses in the shaded boxes below (blue boxes are for descriptions and orange boxes are for dollar amounts): ----- Bank statement balance at September 30: 6988 Book balance at September 30: 6626 Add: Deposit in transit Bank error Less: Add: 1600 Check Error 90 75 Less: Outstanding checks Adjusted bank balance 2022 Bank service Charge 75 6641 Adjusted book balance 6641 Problem 2 of 2: Record the journal entries that are necessary after completing the bank reconciliation (record answers in the grey boxes)

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...
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Problem 1 of 2: Using the following information, prepare a bank reconciliation for the end of September. Bank balance (September 30): $6,988 Book balance (September 30): $6,626 • Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense. Record your responses in the shaded boxes below (blue boxes are for descriptions and orange boxes are for dollar amounts): ----- Bank statement balance at September 30: Add: Deposit in transit Bank error Book balance at September 30: Add: 6988 6626 1600 Check Error 90 75 Less: Less: Outstanding checks Adjusted bank balance 2022 Bank service Charge 75 6641 Adjusted book balance 6641 Problem 2 of 2: Record the journal entries that are necessary after completing the bank reconciliation (record answers in the grey boxes) ----- ----- %D :=3DD ----- -- Account name Debit Credit
Transcribed Image Text:Problem 1 of 2: Using the following information, prepare a bank reconciliation for the end of September. Bank balance (September 30): $6,988 Book balance (September 30): $6,626 • Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense. Record your responses in the shaded boxes below (blue boxes are for descriptions and orange boxes are for dollar amounts): ----- Bank statement balance at September 30: Add: Deposit in transit Bank error Book balance at September 30: Add: 6988 6626 1600 Check Error 90 75 Less: Less: Outstanding checks Adjusted bank balance 2022 Bank service Charge 75 6641 Adjusted book balance 6641 Problem 2 of 2: Record the journal entries that are necessary after completing the bank reconciliation (record answers in the grey boxes) ----- ----- %D :=3DD ----- -- Account name Debit Credit
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