Explanation Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books. Prepare a bank reconciliation of Company S as at December 31: Company S Bank Reconciliation December 31 Particulars Amount ($) Amount ($) Balance as per bank $4,607.51 Add: Deposit in transit $2,504...

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ISBN: 9780136615583

Author: REIMERS

Publisher: PEARSON C

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Chapter 4, Problem 22EA

To determine

Prepare a bank reconciliation of Company S as at December 31.

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Chapter 4, Problem 21EA

Chapter 4, Problem 23EA

Chapter 4 Solutions

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Ch. 4 - Prob. 1YT Ch. 4 - Prob. 2YT Ch. 4 - Suppose at the end of the year Pendleton Corp.s...Ch. 4 - Prob. 4YT Ch. 4 - Prob. 5YT Ch. 4 - Prob. 6YT Ch. 4 - Prob. 7YT Ch. 4 - Prob. 1Q Ch. 4 - Prob. 2Q Ch. 4 - Prob. 3Q

Ch. 4 - Prob. 4Q Ch. 4 - What does true cash balance refer to?Ch. 4 - Identify and explain the financial statements on...Ch. 4 - Describe how accounts receivable arise. What does...Ch. 4 - Prob. 8Q Ch. 4 - Define net realizable value, book value, and...Ch. 4 - Explain the difference between the direct...Ch. 4 - If a company uses the allowance method of...Ch. 4 - Describe the two allowance methods used to...Ch. 4 - Which method of calculating the allowance for...Ch. 4 - Which method of calculating the allowance for...Ch. 4 - What are the advantages and disadvantages of...Ch. 4 - What is the difference between accounts receivable...Ch. 4 - What is the formula to calculate the accounts...Ch. 4 - How does a firm use its accounts receivable...Ch. 4 - Prob. 19Q Ch. 4 - Prob. 20Q Ch. 4 - Prob. 1MCQ Ch. 4 - Prob. 2MCQ Ch. 4 - Prob. 3MCQ Ch. 4 - Prob. 4MCQ Ch. 4 - Prob. 5MCQ Ch. 4 - Prob. 6MCQ Ch. 4 - Prob. 7MCQ Ch. 4 - Prob. 8MCQ Ch. 4 - Prob. 9MCQ Ch. 4 - Prob. 1SEA Ch. 4 - Prob. 2SEA Ch. 4 - Prob. 3SEA Ch. 4 - Prob. 4SEA Ch. 4 - Prob. 5SEA Ch. 4 - Prob. 6SEA Ch. 4 - Prob. 7SEA Ch. 4 - Prob. 8SEA Ch. 4 - Prob. 9SEA Ch. 4 - Prob. 10SEB Ch. 4 - Prob. 11SEB Ch. 4 - Prob. 12SEB Ch. 4 - Prob. 13SEB Ch. 4 - Prob. 14SEB Ch. 4 - Prob. 15SEB Ch. 4 - Prob. 16SEB Ch. 4 - Prob. 17SEB Ch. 4 - Prob. 18SEB Ch. 4 - Prob. 19EA Ch. 4 - Prob. 20EA Ch. 4 - Prob. 21EA Ch. 4 - Prob. 22EA Ch. 4 - Prob. 23EA Ch. 4 - Prob. 24EA Ch. 4 - Prob. 25EA Ch. 4 - Prob. 26EA Ch. 4 - Prob. 27EA Ch. 4 - Prob. 28EA Ch. 4 - Prob. 29EA Ch. 4 - Prob. 30EA Ch. 4 - Prob. 31EA Ch. 4 - Prob. 32EB Ch. 4 - Prob. 33EB Ch. 4 - Prob. 34EB Ch. 4 - Prob. 35EB Ch. 4 - Prob. 36EB Ch. 4 - Prob. 37EB Ch. 4 - Prob. 38EB Ch. 4 - Prob. 39EB Ch. 4 - Prob. 40EB Ch. 4 - Prob. 41EB Ch. 4 - Prob. 42EB Ch. 4 - Prob. 43EB Ch. 4 - Prob. 44EB Ch. 4 - Prob. 45PA Ch. 4 - Prob. 46PA Ch. 4 - Prob. 47PA Ch. 4 - Prob. 48PA Ch. 4 - Prob. 49PA Ch. 4 - Prob. 50PA Ch. 4 - Prob. 51PA Ch. 4 - Prob. 52PA Ch. 4 - Prob. 53PB Ch. 4 - Prob. 54PB Ch. 4 - Prob. 55PB Ch. 4 - Prob. 56PB Ch. 4 - Prob. 57PB Ch. 4 - Prob. 58PB Ch. 4 - Prob. 59PB Ch. 4 - Prob. 60PB Ch. 4 - Prob. 1FSA Ch. 4 - Prob. 2FSA Ch. 4 - The following information has been adapted from...Ch. 4 - Prob. 1CTP Ch. 4 - Prob. 2CTP Ch. 4 - The information given here was taken from Yahoo!...Ch. 4 - Prob. 1IE Ch. 4 - Prob. 2IE Ch. 4 - The information given here was taken from Yahoo!...

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Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book balance: $13,744. Deposits in transit: $2,509. Outstanding checks: $1,777. Bank charges: $125. Bank incorrectly charged the account for $412. The bank will correct the error next month. Check number 1879 correctly cleared the bank in the amount of $562 but posted in the accounting records as $652. This check was expensed to Utilities Expense.

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