5) The following data have been gathered for Rocky Candi Corporation for the month ended September 30, 2020. Prepare a bank reconciliation based on the following information: · The bank statement reveals a balance of $8,936. · The September 30, 2020, book balance was $3,200. · There was an EFT deposit of $1,800 on the bank statement for the monthly rent from a tenant. The bookkeeper had erroneously recorded a $50 cheque as $500. The cheque was to settle an account ble.
5) The following data have been gathered for Rocky Candi Corporation for the month ended September 30, 2020. Prepare a bank reconciliation based on the following information: · The bank statement reveals a balance of $8,936. · The September 30, 2020, book balance was $3,200. · There was an EFT deposit of $1,800 on the bank statement for the monthly rent from a tenant. The bookkeeper had erroneously recorded a $50 cheque as $500. The cheque was to settle an account ble.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![5) The following data have been gathered for Rocky Candi Corporation for the month ended September 30,
2020. Prepare a bank reconciliation based on the following information:
· The bank statement reveals a balance of $8,936.
· The September 30, 2020, book balance was $3,200.
· There was an EFT deposit of $1,800 on the bank statement for the monthly rent from a tenant.
The bookkeeper had erroneously recorded a $50 cheque as $500. The cheque was to settle an account
payable.
· The bank statement revealed $50 in service charges.
· Cheques #322 and #330 for $260 and $285 were not returmed with the bank statement.
· A deposit made on September 29, 2020, for $1,250 did not appear on the bank statement.
A deposit of $500 made on September 10 was erroneously credited to Rocky Candi's account by the
bank for $5,000.
A bank debit memo indicated an NSF cheque for $259.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1eef9f43-1c03-42f2-9214-816260c2a45f%2F641f4d94-9b10-4301-b73c-1573b8c373db%2F8a2z02lv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5) The following data have been gathered for Rocky Candi Corporation for the month ended September 30,
2020. Prepare a bank reconciliation based on the following information:
· The bank statement reveals a balance of $8,936.
· The September 30, 2020, book balance was $3,200.
· There was an EFT deposit of $1,800 on the bank statement for the monthly rent from a tenant.
The bookkeeper had erroneously recorded a $50 cheque as $500. The cheque was to settle an account
payable.
· The bank statement revealed $50 in service charges.
· Cheques #322 and #330 for $260 and $285 were not returmed with the bank statement.
· A deposit made on September 29, 2020, for $1,250 did not appear on the bank statement.
A deposit of $500 made on September 10 was erroneously credited to Rocky Candi's account by the
bank for $5,000.
A bank debit memo indicated an NSF cheque for $259.
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