The balance m Happ. Inc\'s general ledger Cash account was $12,430 at September
ID: 2449699 • Letter: T
Question
The balance m Happ. Inc's general ledger Cash account was $12,430 at September 30. before reconciliation The September 30 balance shown in the bank statement was $11,130. Reconciling items included deposits in transit. $1.200; bank service charges. $70; NSF check written by a customer and returned with the bank statement. $450; outstanding checks. $380; and interest credited to the account during September but not recorded on the company's books. $40 Required Prepare a bank reconciliation as of September 30 lor Happ. Inc.Explanation / Answer
Bank Reconciliation
September 30
Balance as Per Bank
$11130
Balance as per books
$12430
Add:
Add:
Bank Service Charges
$70
Interest Credited to a/c
$40
Deposits In Transit
$1200
Outstanding Cheques
$380
NSF Cheque Returned
$450
$420
$1720
Deduct:
Deduct:
Interest Credited toA/c
$40
Deposits In Transit
$1200
Outstanding Cheques
$380
Bank Service Charges
$70
$420
NSF Cheque Returned
$450
$1720
Reconciled balance
$12430
Reconciled balance
$11130
Bank Reconciliation
September 30
Balance as Per Bank
$11130
Balance as per books
$12430
Add:
Add:
Bank Service Charges
$70
Interest Credited to a/c
$40
Deposits In Transit
$1200
Outstanding Cheques
$380
NSF Cheque Returned
$450
$420
$1720
Deduct:
Deduct:
Interest Credited toA/c
$40
Deposits In Transit
$1200
Outstanding Cheques
$380
Bank Service Charges
$70
$420
NSF Cheque Returned
$450
$1720
Reconciled balance
$12430
Reconciled balance
$11130
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