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.

FindFind

Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
FindFind

Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
Chapter 8, Problem 11EB
Textbook Problem

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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Chapter 8 Solutions

Principles of Accounting Volume 1
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