The following data were accumulated for use in reconciling the bank account of Kaycee Sisters Inc. for August 20Y9: Cash balance according to the company's records at August 31, $16,840. Cash balance according to the bank statement at August 31, $17,570. Checks outstanding, $3,420. Deposit in transit, not recorded by bank, $2,740. A check for $340 in payment of an account was erroneously recorded by Kaycee Sisters Inc. as $430. Bank debit memo for service charges, $40. Prepare a bank reconciliation, using the format shown in Exhibit 12.
The following data were accumulated for use in reconciling the bank account of Kaycee Sisters Inc. for August 20Y9: Cash balance according to the company's records at August 31, $16,840. Cash balance according to the bank statement at August 31, $17,570. Checks outstanding, $3,420. Deposit in transit, not recorded by bank, $2,740. A check for $340 in payment of an account was erroneously recorded by Kaycee Sisters Inc. as $430. Bank debit memo for service charges, $40. Prepare a bank reconciliation, using the format shown in Exhibit 12.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.4E
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The following data were accumulated for use in reconciling the bank account of Kaycee Sisters Inc. for August 20Y9:
- Cash balance according to the company's records at August 31, $16,840.
- Cash balance according to the bank statement at August 31, $17,570.
- Checks outstanding, $3,420.
- Deposit in transit, not recorded by bank, $2,740.
- A check for $340 in payment of an account was erroneously recorded by Kaycee Sisters Inc. as $430.
- Bank debit memo for service charges, $40.
Prepare a bank reconciliation, using the format shown in Exhibit 12.
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