The August 31 balance shown on the bank statement is $9,810. b. There is a depos
ID: 2346203 • Letter: T
Question
The August 31 balance shown on the bank statement is $9,810.b. There is a deposit in transit of $1,260 at August 31.
c. Outstanding checks at August 31 totaled $1,890.
d.
Interest credited to the account during August but not recorded on the company's books amounted to $108.
e.
A bank charge of $36 for checks was made to the account during August. Although the company was expecting a charge, its amount was not known until the bank statement arrived.
f.
In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $631 had been recorded as a disbursement of $361.
g. The August 31 balance in the general ledger Cash account, before reconciliation, is $9,378.
Required:
Prepare a bank reconciliation as of August 31 from the above information: (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.)
Balance per bank $ Balance per books $
Add: Add:
Less: Less:
Reconciled balance $ Reconciled balance $
Explanation / Answer
balance per bank
9810
balance per books:
9378
add:
add:
desposits in transit
1260
interest
108
11070
9486
less:
less:
outstanding checks
-1890
bank charge
-36
reconciled balance
9180
correction of error
-270
-306
reconciled balance
9180
balance per bank
9810
balance per books:
9378
add:
add:
desposits in transit
1260
interest
108
11070
9486
less:
less:
outstanding checks
-1890
bank charge
-36
reconciled balance
9180
correction of error
-270
-306
reconciled balance
9180
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