K The Cash account of Queen City Security Systems reported a balance of $2,510 at December 31, 2024. There were outstanding checks totaling $1,500 and a December 31 deposit in transit of $200. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $4,300. Included in the bank balance was a collection of $500 on account from Sally Jones, a Queen City customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Queen City earned on its bank balance. Prepare Queen City's bank reconciliation at December 31.

K The Cash account of Queen City Security Systems reported a balance of $2,510 at December 31, 2024. There were outstanding checks totaling $1,500 and a December 31 deposit in transit of $200. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $4,300. Included in the bank balance was a collection of $500 on account from Sally Jones, a Queen City customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Queen City earned on its bank balance. Prepare Queen City's bank reconciliation at December 31.

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 5E

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