Don Wyatt is unable to reconcile the bank balance at January 31. Don's reconciliation is as follows. Cash balance per bank RM3,560.20 Add: NSF check 490.00 Less: Bank service charge 25.00 Adjusted balance per bank RM4,025.20 Cash balance per books RM3,875.20 Less: Deposits in transit 530.00 Add: Outstanding checks 730.00 Adjusted balance per books RM4,075.20 a. Prepare a correct bank reconciliation. b. Journalize the entries required by the reconciliation.

Don Wyatt is unable to reconcile the bank balance at January 31. Don's reconciliation is as follows. Cash balance per bank RM3,560.20 Add: NSF check 490.00 Less: Bank service charge 25.00 Adjusted balance per bank RM4,025.20 Cash balance per books RM3,875.20 Less: Deposits in transit 530.00 Add: Outstanding checks 730.00 Adjusted balance per books RM4,075.20 a. Prepare a correct bank reconciliation. b. Journalize the entries required by the 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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From the give Problem 2, What is the adjusted cash in bank on December 31?
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