Homework Answers
5.
| Bank Reconciliation | |||
| At October 31 | |||
| Bank side | Book side | ||
| Bank statement balance | 10,410 | Book balance | 11,200 |
| Add: | Add: | ||
| Deposit in transit | 1,865 | ||
| 12,275 | 11,200 | ||
| Less: | Less: | ||
| Outstanding check | -1,252 | Bank service charges | -50 |
| NSF Check | -100 | ||
| Correction of book error | -27 | ||
| Adjusted bank balance | $11,023 | Adjusted book balance | $11,023 |
6.
| Assets | Liabilities | Equity |
| Cash | Expenses | |
| -40 | -40 |
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