please solve within 30 minutes. BALANCE LASTSTATEMENT$747.61Date3/103/243/31 $6.00Date3/023/073/073/103/16$605.00$605.00SUBTRACTService ChargeOverdraft feesCheck orderTOTALAmountYour checkbook balanceAdjusted BalanceCheck No.20312033203220352038NoDEPOSITS &2ACCOUNT STATEMENTAmount$1,210.00DescriptionDepositDepositService ChargeChecking Account TransactionsAmount$208.5045.78250.0037.3850.00CHECKS & DEBITSAmount$1,040.03689.45No689.4511Incorrect ReconciliationDate3/163/183/273/273/29Bank BalanceDeposits notshownOutstandingChecks20392043Check No.20372034204220412040Adjusted BalanceBALANCE THISSTATEMENT35.6523.45$917.58Amount$105.5428.2022.4635.42250.75917.58848.48What are the two errors in the bank reconciliation?

Bank Reconciliation Statement Statements of bank reconciliation confirm that cash receipts have been…

Answered: Check order TOTAL Adjusted Balance…

Check order TOTAL Adjusted Balance 689.45 2043 Adjusted Balance 23.45 848.48 What are the two errors in the bank reconciliation?

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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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

please solve within 30 minutes.

BALANCE LAST
STATEMENT
$747.61
Date
3/10
3/24
3/31 $6.00
Date
3/02
3/07
3/07
3/10
3/16
$605.00
$605.00
SUBTRACT
Service Charge
Overdraft fees
Check order
TOTAL
Amount
Your checkbook balance
Adjusted Balance
Check No.
2031
2033
2032
2035
2038
No
DEPOSITS &
2
ACCOUNT STATEMENT
Amount
$1,210.00
Description
Deposit
Deposit
Service Charge
Checking Account Transactions
Amount
$208.50
45.78
250.00
37.38
50.00
CHECKS & DEBITS
Amount
$1,040.03
689.45
No
689.45
11
Incorrect Reconciliation
Date
3/16
3/18
3/27
3/27
3/29
Bank Balance
Deposits not
shown
Outstanding
Checks
2039
2043
Check No.
2037
2034
2042
2041
2040
Adjusted Balance
BALANCE THIS
STATEMENT
35.65
23.45
$917.58
Amount
$105.54
28.20
22.46
35.42
250.75
917.58
848.48
What are the two errors in the bank reconciliation?

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