Flores Company received a bank statement showing a balance of $13,000 on November 30, 20X1. During the bank reconciliation process, Flores Company's accountant noted the following bank errors: 1. A check for $153 issued by Flora, Ic., was mistakenly charged to Flores Company's account. 2. Check 2782 was written for $100 but was paid by the bank as $1,100. 3. Check 2920 for $87 was paid by the bank twice. 4. A deposit for $570 on November 22 was credited by the bank for $750. Required: Assuming outstanding checks total $2,170, prepare the adjusted bank balance section of the November 30, 20X1 bank reconciliation.

Flores Company received a bank statement showing a balance of $13,000 on November 30, 20X1. During the bank reconciliation process, Flores Company's accountant noted the following bank errors: 1. A check for $153 issued by Flora, Ic., was mistakenly charged to Flores Company's account. 2. Check 2782 was written for $100 but was paid by the bank as $1,100. 3. Check 2920 for $87 was paid by the bank twice. 4. A deposit for $570 on November 22 was credited by the bank for $750. Required: Assuming outstanding checks total $2,170, prepare the adjusted bank balance section of the November 30, 20X1 bank reconciliation.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 3E

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