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Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance. METLOCK COMPANY Bank Reconciliation, August 31, 2025 County National Bank $ 19 $ > $ $ +9 $ 19 $ Metlock Company has just received the August 31, 2025, bank statement, which is summarized below. County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $51 interest Checks cleared during August Bank service charges Balance, August 31 Disbursements Receipts Balance $11,927 $40,991 52,918 1,324 54,242 $43,919 10,323 25 10,298 10,298 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 12,794 Disbursements in August 44,446 Receipts during August 44,555 Deposits in transit at August 31 are $4,837, and checks outstanding at August 31 total $1,337. Cash on hand at August 31 is $395. The bookkeeper improperly entered one check in the books at $146 which was written for $155 for supplies (expense); it cleared the bank during the month of August. (a) Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.

Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance. METLOCK COMPANY Bank Reconciliation, August 31, 2025 County National Bank $ 19 $ > $ $ +9 $ 19 $ Metlock Company has just received the August 31, 2025, bank statement, which is summarized below. County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $51 interest Checks cleared during August Bank service charges Balance, August 31 Disbursements Receipts Balance $11,927 $40,991 52,918 1,324 54,242 $43,919 10,323 25 10,298 10,298 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 12,794 Disbursements in August 44,446 Receipts during August 44,555 Deposits in transit at August 31 are $4,837, and checks outstanding at August 31 total $1,337. Cash on hand at August 31 is $395. The bookkeeper improperly entered one check in the books at $146 which was written for $155 for supplies (expense); it cleared the bank during the month of August. (a) Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.

FINANCIAL ACCOUNTING
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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Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance. METLOCK COMPANY Bank Reconciliation, August 31, 2025 County National Bank $ 19 $ > $ $ +9 $ 19 $
Transcribed Image Text:Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance. METLOCK COMPANY Bank Reconciliation, August 31, 2025 County National Bank $ 19 $ > $ $ +9 $ 19 $
Metlock Company has just received the August 31, 2025, bank statement, which is summarized below. County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $51 interest Checks cleared during August Bank service charges Balance, August 31 Disbursements Receipts Balance $11,927 $40,991 52,918 1,324 54,242 $43,919 10,323 25 10,298 10,298 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 12,794 Disbursements in August 44,446 Receipts during August 44,555 Deposits in transit at August 31 are $4,837, and checks outstanding at August 31 total $1,337. Cash on hand at August 31 is $395. The bookkeeper improperly entered one check in the books at $146 which was written for $155 for supplies (expense); it cleared the bank during the month of August. (a) Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.
Transcribed Image Text:Metlock Company has just received the August 31, 2025, bank statement, which is summarized below. County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $51 interest Checks cleared during August Bank service charges Balance, August 31 Disbursements Receipts Balance $11,927 $40,991 52,918 1,324 54,242 $43,919 10,323 25 10,298 10,298 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 12,794 Disbursements in August 44,446 Receipts during August 44,555 Deposits in transit at August 31 are $4,837, and checks outstanding at August 31 total $1,337. Cash on hand at August 31 is $395. The bookkeeper improperly entered one check in the books at $146 which was written for $155 for supplies (expense); it cleared the bank during the month of August. (a) Prepare a bank reconciliation dated August 31, 2025, proceeding to a correct balance.
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