In addition to keeping an eye on her inventory Rita is also a little bit worried amount of cash she has available. The most recent bank statement for Perfect Cover Insurance Brokers showed a credit balance of $11 232 but this seems quite different from her most cash at bank ledger which is showing a debit balance of $9 440. Following a review of her records, Rita has found that there were several items on the banak statement that she was unaware of and hand recorded including a direct deposit for $1988, a returned(dishonoured) cheque for $500 and account fees for $16. Rita has also notice the bank has not recorded the $1140 cash she received on the last day of the month (and hasn't actually deposited yet) or 3 cheques she wrote out last month for $544, $496 and $420. Complete a Bank Reconciliation for the month August.

In addition to keeping an eye on her inventory Rita is also a little bit worried amount of cash she has available. The most recent bank statement for Perfect Cover Insurance Brokers showed a credit balance of $11 232 but this seems quite different from her most cash at bank ledger which is showing a debit balance of $9 440. Following a review of her records, Rita has found that there were several items on the banak statement that she was unaware of and hand recorded including a direct deposit for $1988, a returned(dishonoured) cheque for $500 and account fees for $16. Rita has also notice the bank has not recorded the $1140 cash she received on the last day of the month (and hasn't actually deposited yet) or 3 cheques she wrote out last month for $544, $496 and $420. Complete a Bank Reconciliation for the month August.

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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