Bank Reconciliation. The following data were accumulated for use in reconciling the bank account of Wolfpack Bread Inc. for August 20Y9: a. Cash balance according to the company's records at August 31, $20,110. b. Cash balance according to the bank statement at August 31, $21,210. c. Checks outstanding, $4,080. d. Deposit in transit, not recorded by bank, $3,280. e. A check for $590 issued in payment of an account to a supplier was erroneously recorded by Wolfpack Bread Inc. as $950. f. Bank debit memo for service charges, $60. Prepare a bank reconciliation, using the format shown in Exhibit 10. WOLFPACK BREAD INC. Bank Reconciliation August 31, 20Y9 Cash balance according to bank statement Adjusted balance. Cash balance according to Wolfpack Bread Inc. Adjusted balance

Bank Reconciliation. The following data were accumulated for use in reconciling the bank account of Wolfpack Bread Inc. for August 20Y9: a. Cash balance according to the company's records at August 31, $20,110. b. Cash balance according to the bank statement at August 31, $21,210. c. Checks outstanding, $4,080. d. Deposit in transit, not recorded by bank, $3,280. e. A check for $590 issued in payment of an account to a supplier was erroneously recorded by Wolfpack Bread Inc. as $950. f. Bank debit memo for service charges, $60. Prepare a bank reconciliation, using the format shown in Exhibit 10. WOLFPACK BREAD INC. Bank Reconciliation August 31, 20Y9 Cash balance according to bank statement Adjusted balance. Cash balance according to Wolfpack Bread Inc. Adjusted balance

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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