1. Cash balance according to the company's records at August 31, $17,100. 2. Cash balance according to the bank statement at August 31, $18,090. 3. Checks outstanding, $3,470. 4. Deposit in transit, not recorded by bank, $2,790. 5. A check for $480 in payment of an account was erroneously recorded in the check register as $840. 6. Bank debit memo for service charges, $50.

1. Cash balance according to the company's records at August 31, $17,100. 2. Cash balance according to the bank statement at August 31, $18,090. 3. Checks outstanding, $3,470. 4. Deposit in transit, not recorded by bank, $2,790. 5. A check for $480 in payment of an account was erroneously recorded in the check register as $840. 6. Bank debit memo for service charges, $50.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

BRS
1. Cash balance according to the company's records at August 31, $17,100.
2. Cash balance according to the bank statement at August 31, $18,090.
3. Checks outstanding, $3,470.
4. Deposit in transit, not recorded by bank, $2,790.
5. A check for $480 in payment of an account was erroneously recorded in the check register as $840.
6. Bank debit memo for service charges, $50.

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