Ryan Carter Corporation operates four bowling alleys. The business just recelved

Question

Ryan Carter Corporation operates four bowling alleys. The business just recelved the October 31, 2018, bank statement from City National Bank, and the statement shows an ending balance of $930. Listed on the statement are an EFT rent collection o $425, a ser ce charge of $9, NSF checks to a ng $95 and a $26 charge for printed checks. In rewe ng the cash records, he business identified outstanding checks totaling $455 and a deposit in transit c $1.755. During October the business recorded a $290 check by debiting Salaries Expense and crediting Cash for $29. The business's Cash account shows an October 31 balance of $2,196. Read the requirements

Explanation / Answer

Solution:

Ryan Carter Corporation Bank Reconciliation - October 31 Bank's Cash balance Company's cash balance Particulars Amount Particulars Amount Ending balance as per Bank Statements $930.00 Ending Balance as per cash books $2,196.00 Additions: Additions: Outstanding cash receipt $1,755.00 Rent Collection $425.00 Deductions: Deductions: Outstanding Checks $455.00 NSF Cheque $95.00 Service Charge $9.00 Printing check charges $26.00 Incorrect recording of check ($290 - $29) $261.00 Up to date cash balance as per bank $2,230.00 Up to date cash balance as per books $2,230.00

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