John’s bank statement shows a closing balance for a given month as $2,200, and his personal account register shows a closing balance for the same month as $2,050. John investigated his accounts to identify the following discrepancies: · The bank charged $200 in bank charges. · Checks for $200 were not yet paid. · Deposits not yet credited were $300. · The bank credited $450 to John’s account. What will be the reconciled amount of John’s bank account?
John’s bank statement shows a closing balance for a given month as $2,200, and his personal account register shows a closing balance for the same month as $2,050. John investigated his accounts to identify the following discrepancies: · The bank charged $200 in bank charges. · Checks for $200 were not yet paid. · Deposits not yet credited were $300. · The bank credited $450 to John’s account. What will be the reconciled amount of John’s bank account?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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John’s bank statement shows a closing balance for a given month as $2,200, and his personal account register shows a closing balance for the same month as $2,050. John investigated his accounts to identify the following discrepancies:
· The bank charged $200 in bank charges.
· Checks for $200 were not yet paid.
· Deposits not yet credited were $300.
· The bank credited $450 to John’s account.
What will be the reconciled amount of John’s bank account?
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