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Using the following information, prepare a bank reconciliation for Biron Bay Ltd as at 31 May.   The bank statement balance is $18,200. The cash account balance is $14824. Outstanding cheques totalled $3200. Deposits in transit are $600. The bank service charge is $24. Collection of note by bank, $800.

Using the following information, prepare a bank reconciliation for Biron Bay Ltd as at 31 May.   The bank statement balance is $18,200. The cash account balance is $14824. Outstanding cheques totalled $3200. Deposits in transit are $600. The bank service charge is $24. Collection of note by bank, $800.

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 7EA: Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance:...
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Using the following information, prepare a bank reconciliation for Biron Bay Ltd as at 31 May.

 

  1. The bank statement balance is $18,200.
  2. The cash account balance is $14824.
  3. Outstanding cheques totalled $3200.
  4. Deposits in transit are $600.
  5. The bank service charge is $24.
  6. Collection of note by bank, $800.
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