Swifty Wyatt is unable to reconcile the bank balance at January 31. Swifty’s reconciliation is as follows.Cash balance per bank $3,820.20Add: NSF check 560Less: Bank service charge 31Adjusted balance per bank $4,349.20 Cash balance per books $4,135.20Less: Deposits in transit 660Add: Outstanding checks 936Adjusted balance per books $4,411.20 Prepare a correct bank reconciliation

Bank reconciliation: Bank reconciliation is a statement which is prepared to reconcile the cash…

Answered: Swifty Wyatt is unable to reconcile the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 9EA: Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance:...

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Swifty Wyatt is unable to reconcile the bank balance at January 31. Swifty’s reconciliation is as follows.

Cash balance per bank		$3,820.20
Add: NSF check		560
Less: Bank service charge		31
Adjusted balance per bank		$4,349.20

Cash balance per books		$4,135.20
Less: Deposits in transit		660
Add: Outstanding checks		936
Adjusted balance per books		$4,411.20

Prepare a correct bank reconciliation

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