Using the following information: The bank statement balance is $4,045. The cash account balance is $4,474....
Using the following information:
- The bank statement balance is $4,045.
- The cash account balance is $4,474.
- Outstanding checks amounted to $769.
- Deposits in transit are $1,121.
- The bank service charge is $68.
- A check for $34 for supplies was recorded as $25 in the ledger.
Prepare a bank reconciliation for Candace Co. for May 31.
| Candace Co. Bank Reconciliation May 31 |
||
| Cash balance according to bank statement | $ | |
| Adjustments: | ||
| $ | ||
| Total adjustments | ||
| Adjusted balance | $ | |
| Cash balance according to company's records | $ | |
| Adjustments: | ||
| $ | ||
| Total adjustments | ||
| Adjusted balance | ||
Homework Answers
Prepare a bank reconciliation for Candace Co. for May 31.
| Candace Co. Bank Reconciliation May 31 |
||
| Cash balance according to bank statement | $4045 | |
| Adjustments: | ||
| Deposit in transit | $1121 | |
| Less: Outstanding Checks | -769 | |
| Total adjustments | 352 | |
| Adjusted balance | $4397 | |
| Cash balance according to company's records | $4474 | |
| Adjustments: | ||
| Bank Charges | $-68 | |
| Error in Check (34-25) | -9 | |
| Total adjustments | -77 | |
| Adjusted balance | 4397 | |
Add Answer to:
Using the following information:
The bank statement balance is $4,045.
The cash account balance is $4,474....
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