a. The August 31 balance shown on the bank statement is $9,050. b. There is a deposit in transit of $1,300 at August 31. c. Outstanding checks at August 31 totaled $1,620. d. Interest credited to the account during August but not recorded on the company's books amounted to $68. e. A bank charge of $44 for checks was made to the account during August. Although the company was expecting a charge, the amount was not known until the bank statement arrived. f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $142 had been recorded as a disbursement of $412. g. The August 31 balance in the general ledger Cash account, before reconciliation, is $8,436. Required: Prepare a bank reconciliation as of August 31 from the above information.
a. The August 31 balance shown on the bank statement is $9,050. b. There is a deposit in transit of $1,300 at August 31. c. Outstanding checks at August 31 totaled $1,620. d. Interest credited to the account during August but not recorded on the company's books amounted to $68. e. A bank charge of $44 for checks was made to the account during August. Although the company was expecting a charge, the amount was not known until the bank statement arrived. f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $142 had been recorded as a disbursement of $412. g. The August 31 balance in the general ledger Cash account, before reconciliation, is $8,436. Required: Prepare a bank reconciliation as of August 31 from the above information.
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
Related questions
Question
![Refer to the Information given below:
a. The August 31 balance shown on the bank statement is $9,050.
b. There is a deposit in transit of $1,300 at August 31.
c. Outstanding checks at August 31 totaled $1,620.
d. Interest credited to the account during August but not recorded on the company's books amounted to $68.
e. A bank charge of $44 for checks was made to the account during August. Although the company was expecting a charge, the
amount was not known until the bank statement arrived.
f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts
payable of $142 had been recorded as a disbursement of $412
g. The August 31 balance in the general ledger Cash account, before reconciliation, is $8,436.
Required:
Prepare a bank reconciliation as of August 31 from the above Information.
Balance per bank
Add:
Deduct:
Reconciled balance
Bank Reconciliation
August 31
Balance per books
Add:
Deduct:
Reconciled balance](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb56d4198-a5f7-4f50-bb8b-4e8081849db0%2F92f107b4-e44f-4270-96cd-817643c1ca30%2Fy15zl8d_processed.png&w=3840&q=75)
Transcribed Image Text:Refer to the Information given below:
a. The August 31 balance shown on the bank statement is $9,050.
b. There is a deposit in transit of $1,300 at August 31.
c. Outstanding checks at August 31 totaled $1,620.
d. Interest credited to the account during August but not recorded on the company's books amounted to $68.
e. A bank charge of $44 for checks was made to the account during August. Although the company was expecting a charge, the
amount was not known until the bank statement arrived.
f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts
payable of $142 had been recorded as a disbursement of $412
g. The August 31 balance in the general ledger Cash account, before reconciliation, is $8,436.
Required:
Prepare a bank reconciliation as of August 31 from the above Information.
Balance per bank
Add:
Deduct:
Reconciled balance
Bank Reconciliation
August 31
Balance per books
Add:
Deduct:
Reconciled balance
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