An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to company’s records $18,520 Adjustments: Outstanding checks $4,780 Error by Chesner Co. in recording Check No. 1056 as $875 instead of $785 90 Note for $15,000 collected by bank, including interest 15,600 Deposit in transit on July 31 (11,300) Bank service charges (45) Total adjustments 9,125 Cash balance according to bank statement $27,645 Question Content Area 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 ReconciliationJuly 31, 20Y4 Cash balance according to bank statement $fill in the blank 3f370c07bf88039_1 blank - Select - blank - Select - Adjusted balance blank fill in the blank 3f370c07bf88039_6 Cash balance according to company's records $fill in the blank 3f370c07bf88039_7 $- Select - - Select - blank Total additions blank fill in the blank 3f370c07bf88039_12 blank - Select - Adjusted balance $fill in the blank 3f370c07bf88039_15 Question Content Area b. If a balance sheet were prepared for Chesner Co. on July 31, 20Y4, what amount should be reporte
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July 31, 20Y4 Cash balance according to company’s records $18,520 Adjustments: Outstanding checks $4,780 Error by Chesner Co. in recording Check No. 1056 as $875 instead of $785 90 Note for $15,000 collected by bank, including interest 15,600 Deposit in transit on July 31 (11,300) Bank service charges (45) Total adjustments 9,125 Cash balance according to bank statement $27,645 Question Content Area 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 ReconciliationJuly 31, 20Y4 Cash balance according to bank statement $fill in the blank 3f370c07bf88039_1 blank - Select - blank - Select - Adjusted balance blank fill in the blank 3f370c07bf88039_6 Cash balance according to company's records $fill in the blank 3f370c07bf88039_7 $- Select - - Select - blank Total additions blank fill in the blank 3f370c07bf88039_12 blank - Select - Adjusted balance $fill in the blank 3f370c07bf88039_15 Question Content Area b. If a balance sheet were prepared for Chesner Co. on July 31, 20Y4, what amount should be reporte
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
An accounting clerk for Chesner Co. prepared the following bank reconciliation:
| Chesner Co. | |||
| Bank Reconciliation | |||
| July 31, 20Y4 | |||
| Cash balance according to company’s records | $18,520 | ||
| Adjustments: | |||
| Outstanding checks | $4,780 | ||
| Error by Chesner Co. in recording Check | |||
| No. 1056 as $875 instead of $785 | 90 | ||
| Note for $15,000 collected by bank, including interest | 15,600 | ||
| Deposit in transit on July 31 | (11,300) | ||
| Bank service charges | (45) | ||
| Total adjustments | 9,125 | ||
| Cash balance according to bank statement | $27,645 |
Question Content Area
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.
| Cash balance according to bank statement | $fill in the blank 3f370c07bf88039_1 | |
|
|
blank | - Select - |
|
|
blank | - Select - |
| Adjusted balance | blank | fill in the blank 3f370c07bf88039_6 |
| Cash balance according to company's records | $fill in the blank 3f370c07bf88039_7 | |
|
|
$- Select - | |
|
|
- Select - | blank |
| Total additions | blank | fill in the blank 3f370c07bf88039_12 |
|
|
blank | - Select - |
| Adjusted balance | $fill in the blank 3f370c07bf88039_15 |
Question Content Area
b. If a
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