An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation Cash balance according to company's records Adjustments: July 31, 20Y4 Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 Note for $12,600 collected by bank, including interest Deposit in transit on July 31 Bank service charges Total adjustments Cash balance according to bank statement Adjusted balance Cash balance according to company's records Total additions Adjusted balance $3,840 1000 450 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., use the format shown in the Let's Review section. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to bank statement 13,100 (8,150) (60) $8,010 9,180 $17,190 b. If a balance sheet were prepared for Chesner Co. on July 31, 20Y4, what amount should be reported for cash? $

An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation Cash balance according to company's records Adjustments: July 31, 20Y4 Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 Note for $12,600 collected by bank, including interest Deposit in transit on July 31 Bank service charges Total adjustments Cash balance according to bank statement Adjusted balance Cash balance according to company's records Total additions Adjusted balance $3,840 1000 450 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., use the format shown in the Let's Review section. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to bank statement 13,100 (8,150) (60) $8,010 9,180 $17,190 b. If a balance sheet were prepared for Chesner Co. on July 31, 20Y4, what amount should be reported for cash? $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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From the give Problem 2, What is the adjusted cash in bank on December 31?
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