Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: Cash balance according to the company's records at July 31 $24,590. Cash balance according to the bank statement at July 31, $25,890. Checks outstanding, $4,990. Deposit in transit, not recorded by bank, $4,010. A check for $480 in payment of an account was erroneously recorded in the check register as $840. Bank debit memo for service charges, $40. a. Prepare a bank reconciliation, using the format shown in Exhibit 14. Mathers Co. Bank Reconciliation July 31
Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: Cash balance according to the company's records at July 31 $24,590. Cash balance according to the bank statement at July 31, $25,890. Checks outstanding, $4,990. Deposit in transit, not recorded by bank, $4,010. A check for $480 in payment of an account was erroneously recorded in the check register as $840. Bank debit memo for service charges, $40. a. Prepare a bank reconciliation, using the format shown in Exhibit 14. Mathers Co. Bank Reconciliation July 31
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bank Reconciliation
The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:
- Cash balance according to the company's records at July 31 $24,590.
- Cash balance according to the bank statement at July 31, $25,890.
- Checks outstanding, $4,990.
- Deposit in transit, not recorded by bank, $4,010.
- A check for $480 in payment of an account was erroneously recorded in the check register as $840.
- Bank debit memo for service charges, $40.
a. Prepare a bank reconciliation, using the format shown in Exhibit 14.
| Mathers Co. |
| Bank Reconciliation |
| July 31 |
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