Complete a Bank Reconciliation for Plastics Manufacturers In this exercise, you

Question

Complete a Bank Reconciliation for Plastics Manufacturers In this exercise, you will complete a bank r Manufacturers. One of your primary goals is to ensure that the file can be easily understood by the end user. Use this information to populate the reconciliation: econciliation as of 12/31/2016 for Plastics Deposits in Transit: $3,60 NSF Check: $8,400 Notes Receivable: $20,000 Outstanding Checks: $3,000 and $1,800 Bank Charges: $500 when recording check #223 for $8,100, the company erroneously reduced the cash balance by $7,000. The bank statement reflects a 12/31/16 balance of $41,000, while the company's general ledger reflects a 12/31/16 cash balance of $29,800. . .

Explanation / Answer

Plastics Manufacturers Bank Reconciliation Statement December 31, 2016 Balance as per Bank $ 41,000 Balance as per Books $ 29,800 Add: Deposits in Transit 3,600 Less: Outstanding Checks (4,800) (1,200) 39,800 29,800 Add: Collection of Note Receivable 20,000 Less: Bank charges (500) Less: Error in recording check (1,100) Less: NSF check (8,400) 10,000 Adjusted balance as per Bank 39,800 Adjusted balance as per Books 39,800

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