Oriole Industri provided following information for the month of February. 1. 2. 3. 4. 5 6 7 8 a b C Balance per bank on February 28-$36,060 Balance per books on February 28-$37,360 Total outstanding checks at February 28-$2,436 Debit memoranda: NSF check from Sanderson, Inc-$522 Printing company checks-$34 Electronic payment to bank for a loan-$2.568. Of this amount, $108 is interest. Credit memorandum: EFT from customer for $1,700 A check written this month to City Utilities and cleared the bank at the correct amount of $2,080, but was recorded at $2.162. The bank charged a $306 check of ABC Company against Oriole Industries' account. Deposit in transit on February 28-$2.088
Oriole Industri provided following information for the month of February. 1. 2. 3. 4. 5 6 7 8 a b C Balance per bank on February 28-$36,060 Balance per books on February 28-$37,360 Total outstanding checks at February 28-$2,436 Debit memoranda: NSF check from Sanderson, Inc-$522 Printing company checks-$34 Electronic payment to bank for a loan-$2.568. Of this amount, $108 is interest. Credit memorandum: EFT from customer for $1,700 A check written this month to City Utilities and cleared the bank at the correct amount of $2,080, but was recorded at $2.162. The bank charged a $306 check of ABC Company against Oriole Industries' account. Deposit in transit on February 28-$2.088
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please Answer With Details and Don't image format
Transcribed Image Text:Prepare a bank reconciliation in proper format. (List items that increase balance as per bank & books first.)
Orioleindustries
Bank Reconciliation
February 28
>
S
10
S
Transcribed Image Text:Oriole Industries provided the following information for the month of February.
Balance per bank on February 28-$36,060
Balance per books on February 28-$37,360
1.
2.
3.
4.
5
6
7
8
a
b
C
Total outstanding checks at February 28-$2,436
Debit memoranda:
NSF check from Sanderson, Inc.-$522
Printing company checks-$34
Electronic payment to bank for a loan-$2.568. Of this amount, $108 is interest.
Credit memorandum: EFT from customer for $1,700
A check written this month to City Utilities and cleared the bank at the correct amount of $2,080, but was recorded at
$2,162.
The bank charged a $306 check of ABC Company against Oriole Industries' account.
Deposit in transit on February 28-$2,088
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