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× Take a Test-Hayle Sanford-Microsoft Edge ? mathdcom/student/PlayerTestaspxmetid-183270713¢erwinyes; PRIN of ACCT 1 (60) SUM18 (Coates) Test: Exam 5 Chapter 8-9 Time Remaining: 01:56 45 Submit Test This Question: 16 pts 14 of 28 (1 complete) This Test: 100 pts possible The Cash account of Safe and Secure Security Systems reported a balance of $2,540 at December 31, 2018. There were outstanding checks totaling $1,500 and a December 31 deposit in transit of $200. The bank statement, which came from Park Cities Bank, listed the December 31 balance of $4.450 Included in the bank balance was a collection of $620 on account from Roger Adams, a Safe and Secure customer who pays the bank drecly. The bank statement also shows a $30 service charge and $20 of interest revenue that Safe and Secure eamed on its bank balance. Prepare Safe and Secure's bank reconciliation at December 31 December 31, 2018 Bank: Balance, December 31, 2018 ADD LESS Adjusted bank balance, December 31, 2018 Book: Balance, December 31, 2018 ADD LESS Adjusted book balance, December 31, 2018 Choose f from any list or enter any number in the input fields and then continue to the next question 11:54 PMExplanation / Answer
Answer:
Safe and secure Security System
Bank reconciliation
Dec-31,2018
Balance as per bank as on Dec-31
4450
Add: Deposit in transits
200
4650
Less: Outstanding check
-1500
Adjusted bank balance
3150
Balance as per book as on Dec-31
2540
Add:
Bank collection
620
Interest revenue
20
640
3180
Less: Service charge
-30
-30
Adjusted book balance
3150
Safe and secure Security System
Bank reconciliation
Dec-31,2018
Balance as per bank as on Dec-31
4450
Add: Deposit in transits
200
4650
Less: Outstanding check
-1500
Adjusted bank balance
3150
Balance as per book as on Dec-31
2540
Add:
Bank collection
620
Interest revenue
20
640
3180
Less: Service charge
-30
-30
Adjusted book balance
3150
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