Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 Cash balance according to company's records Add: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 Note for $10,100 collected by bank, including interest Deduct: Deposit in transit on August 31 Bank service charges Cash balance according to bank statement $3,090 450 10,500 $6,560 70 $6,440 14,040 $20,480 6,630 $13,850 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in t Chesner Co. Bank Reconciliation August 31

Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 Cash balance according to company's records Add: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 Note for $10,100 collected by bank, including interest Deduct: Deposit in transit on August 31 Bank service charges Cash balance according to bank statement $3,090 450 10,500 $6,560 70 $6,440 14,040 $20,480 6,630 $13,850 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in t Chesner Co. Bank Reconciliation August 31

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 1COMP

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