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.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 $2170, prepare the adjusted bank balance section of the November 30, 20X1 bank reconciliation.
Transcribed Image Text: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 $2170, prepare the adjusted bank balance section of the November 30, 20X1 bank reconciliation.
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