EA 11.LO 8.6Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance: $6,626 Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense. EA 12.LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.11.
EA 11.LO 8.6Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance: $6,626 Deposits in transit: $1,600 Outstanding checks: $599 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense. EA 12.LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.11.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
EA 11.LO 8.6Using the following information, prepare a bank reconciliation.
- Bank balance: $6,988
- Book balance: $6,626
- Deposits in transit: $1,600
- Outstanding checks: $599 and $1,423
- Bank charges: $75
- Bank incorrectly charged the account $75. The bank will correct the error next month.
- Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense.
EA 12.LO 8.6Prepare the journal entry to reconcile the bank statement in Exercise 8.11.
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