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 $25,180. Cash balance according to the bank statement at July 31, $26,590. Checks outstanding, $5,110. Deposit in transit, not recorded by bank, $4,100. A check for $270 in payment of an account was erroneously recorded in the check register as $720. Bank debit memo for service charges, $50.
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 $25,180. Cash balance according to the bank statement at July 31, $26,590. Checks outstanding, $5,110. Deposit in transit, not recorded by bank, $4,100. A check for $270 in payment of an account was erroneously recorded in the check register as $720. Bank debit memo for service charges, $50.
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
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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 $25,180.
- Cash balance according to the bank statement at July 31, $26,590.
- Checks outstanding, $5,110.
- Deposit in transit, not recorded by bank, $4,100.
- A check for $270 in payment of an account was erroneously recorded in the check register as $720.
- Bank debit memo for service charges, $50.
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