At the end of April K Marx company received their bank statement that showed an

Question

At the end of April K Marx company received their bank statement that showed an ending balance of $5,875. K Marx company's balance in their general ledger cash account was $6,000. Based on the following information prepare a bank reconciliation.

A. The balance in the bank statement included the following items:

-An EFT of $200

-NSF Check $100

-Service charge of $25

B. The balance in K Marx company's general ledger included the following information

-Check number 105 for $300 was still outstanding

-Deposits in transit totaled $500

Explanation / Answer

Bank Reconciliation balance as per bank statement 5,875 Add: deposits in transit 500 6,375 less: Cheques outstanding 300 Adjusted bank balance 6,075 balance as per cash statement 6,000 Add: EFT 200 6,200 less: NSF 100 bank service charge 25 125 Adjusted cash balance 6075

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

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