Using the following information: The bank statement balance is $4,044. The cash account balance is $4,369. Outstanding checks amounted to $676. Deposits in transit are $927. The bank service charge is $65. A check for $68 for supplies was recorded as $59 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31.
Using the following information: The bank statement balance is $4,044. The cash account balance is $4,369. Outstanding checks amounted to $676. Deposits in transit are $927. The bank service charge is $65. A check for $68 for supplies was recorded as $59 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 21E
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Using the following information:
- The bank statement balance is $4,044.
- The cash account balance is $4,369.
- Outstanding checks amounted to $676.
- Deposits in transit are $927.
- The bank service charge is $65.
- A check for $68 for supplies was recorded as $59 in the ledger.
Prepare a bank reconciliation for Candace Co. for May 31.
Candace Co.
Bank Reconciliation
May 31Cash balance according to bank statement $ Adjustments: $ Total adjustments Adjusted balance $ Cash balance according to company's records $ Adjustments: $ Total adjustments Adjusted balance $
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