were accumulated for use in reconciling the bank account of Kaycee Sisters Inc.

Question

were accumulated for use in reconciling the bank account of Kaycee Sisters Inc. for August 2019 a.Cash balance according to the company's records at August 31, $21,310 b. Cash balance according to the bank statement at August 31, $22,220 CChecks outstanding, $4,330. ot in tanst. not recorded by bank,3,470 e. A check for $340 f. Bank debit memo for service charges, $40. in payment of an account was erroneously recorded by Kaycee Sisters Inc. as $430 Prepare a bank reconcillation, using the format shown in Exhibit 12 Kaycee Sisters Inc Bank Reconciliation Cash balance according to bank stabement sted balance Cash balance acconding to Kaycee Sisters Inc Adjusted balance Exit Submit A MacBook Pro 5 6 8

Explanation / Answer

BANK RECONCILIATION STATEMENT: balance as per Bank statement: 22220 Add: Deposits in transit 3470 25690 Less: Outstanding Checks 4330 Adjusted balance as per bank Statement 21360 Balance as per Books 21310 Add: Error in recording of check issue 90 21400 Less: Service charges 40 Adjusted Balance as per Books 21360

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