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 $16,320. Cash balance according to the bank statement at July 31, $17,300. Checks outstanding, $3,310. Deposit in transit, not recorded by bank, $2,660. A check for $590 in payment of an account was erroneously recorded in the check register as $950. Bank debit memo for service charges, $30. a. Prepare a bank reconciliation, using the format shown in Exhibit 14.
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 $16,320. Cash balance according to the bank statement at July 31, $17,300. Checks outstanding, $3,310. Deposit in transit, not recorded by bank, $2,660. A check for $590 in payment of an account was erroneously recorded in the check register as $950. Bank debit memo for service charges, $30. a. Prepare a bank reconciliation, using the format shown in Exhibit 14.
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 $16,320.
- Cash balance according to the bank statement at July 31, $17,300.
- Checks outstanding, $3,310.
- Deposit in transit, not recorded by bank, $2,660.
- A check for $590 in payment of an account was erroneously recorded in the check register as $950.
- Bank debit memo for service charges, $30.
a. Prepare a bank reconciliation, using the format shown in Exhibit 14.
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