PA10. 8.6 Susan’s Dress Shop deposits all receipts to the bank each evening and makes all payments by check. On November 30, its book balance of cash was $5,375.05. The bank statement balance of cash as of November 30 is $5,784.77. Use the following information to complete a bank reconciliation:The company has the following outstanding checks: no. 227 for $125.87, no. 230 for $155, no. 231 for $132, no. 232 for $218 and no. 234 for $128.85A deposit of $945 was delivered to the bank after business hours on November 30 and did not appear on the bank statementUpon review of the bank statement an error was uncovered. Check no. 233 for $89 was written correctly, but recorded in the company’s records as $98.Bank service charges of $29 are reported by the bank (Continued on next page)In the bank statement is a note stating that the bank collected $600 payments) from the credit card company as well as $15 in interest. This transaction is on the bank statement but not in the company’s financial records.

A bank reconciliation statement is a financial document that reconciles the bank statement balance…

Answered: PA10. 8.6 Susan’s Dress Shop deposits…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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PA10. 8.6 Susan’s Dress Shop deposits all receipts to the bank each evening and makes all payments by check. On November 30, its book balance of cash was $5,375.05. The bank statement balance of cash as of November 30 is $5,784.77. Use the following information to complete a bank reconciliation:

The company has the following outstanding checks: no. 227 for $125.87, no. 230 for $155, no. 231 for $132, no. 232 for $218 and no. 234 for $128.85
A deposit of $945 was delivered to the bank after business hours on November 30 and did not appear on the bank statement
Upon review of the bank statement an error was uncovered. Check no. 233 for $89 was written correctly, but recorded in the company’s records as $98.
Bank service charges of $29 are reported by the bank (Continued on next page)
In the bank statement is a note stating that the bank collected $600 payments) from the credit card company as well as $15 in interest. This transaction is on the bank statement but not in the company’s financial records.

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