A. What is the adjusted balance on the bank reconciliation? B. On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.
A. What is the adjusted balance on the bank reconciliation? B. On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following data were gathered to use in reconciling the bank account of Torres Company:
| Balance per bank | $9,295 |
| Balance per company records | 7,975 |
| Bank service charges | 30 |
| Deposit in transit | 2,295 |
| NSF check | 1,960 |
| Outstanding checks | 5,605 |
| Instructions | |
| A. | What is the adjusted balance on the bank reconciliation? |
| B. | On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles. |
Starting question
A. What is the adjusted balance on the bank reconciliation?
| B. | On March 1, journalize any necessary entries for Torres Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wording of account titles. |
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