Homework Answers
Answer:
9. -$21,500 to reconcile Bank Balance
10. $6,143 to reconcile Company Cash Balance
11. $226,143 is the balance in company's cash account after the reconciliation
Workings Table:
| Amount | Cash Balance | Bank Balance | |
| (in $) | Books | Bank | |
| Balance as of Feb 28 | $220,000 | $247,643 | |
| Cash receipts not deposited yet into bank | 126,000 | included | not included |
| Checks not processed by bank | -147,500 | included | not included |
| NSF check | -119 | not included | included |
| Service fee | -20 | not included | included |
| Interest earned | 32 | not included | included |
| Payment collected | 6,250 | not included | included |
| Sum of Reconciliation Items (sum of "not included" items) | =(-119)+(-20)+32+6250 | =126,000+(-147,500) | |
| 6,143 | -21,500 | ||
| Balance after reconciliation Items | =220,000 + 6,143 | =247,643 + (-21,500) | |
| $226,143 | $226,143 |
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