Balance per bank$12,175Balance per company records9,480Bank service charges50Deposit in transit1,800NSF check1,250Outstanding checks5,795 InstructionsA.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.

Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…

Answered: Balance per bank $12,175 Balance per…

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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Balance per bank	$12,175
Balance per company records	9,480
Bank service charges	50
Deposit in transit	1,800
NSF check	1,250
Outstanding checks	5,795

	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.

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