Bank Reconciliation The following data were gathered to use in reconciling the bank account of Azalea Company: Balance per bank $ 31,820 Balance per company records 26,550 Bank service charges 150 Deposit in transit 4,690 NSF check 1,730 Outstanding checks 11,840 Question Content Area a. What is the adjusted balance on the bank reconciliation? b. journalize any necessary entries for Azalea company based on the bank reconciliation.
Bank Reconciliation The following data were gathered to use in reconciling the bank account of Azalea Company: Balance per bank $ 31,820 Balance per company records 26,550 Bank service charges 150 Deposit in transit 4,690 NSF check 1,730 Outstanding checks 11,840 Question Content Area a. What is the adjusted balance on the bank reconciliation? b. journalize any necessary entries for Azalea company based on the bank reconciliation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Bank Reconciliation
The following data were gathered to use in reconciling the bank account of Azalea Company:
| Balance per bank | $ 31,820 |
| Balance per company records | 26,550 |
| Bank service charges | 150 |
| Deposit in transit | 4,690 |
| NSF check | 1,730 |
| Outstanding checks | 11,840 |
Question Content Area
a. What is the adjusted balance on the bank reconciliation?
b. journalize any necessary entries for Azalea company based on the bank reconciliation.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education