The balance in Happ, Inc.\'s general ledger Cash account was $12, 430 at Septemb

Question

The balance in 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. $30. Prepare a bank reconciliation as of September 30 for Happ, Inc. Show the reconciling items in a horizontal model, or write the adjusting journal entry (or entries)

Explanation / Answer

         Balance in Happy Inc Cash Account     12430

  Less : Deposit in Transit                              1200

  Less : Bank Service Charges                      70

Add:    Outstanding Checks                        380

Add:    Interest Credit to the Account          30

Less : NSF Check                                      450

Balance in Bank Statement                 11120

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.