Poway Co. Bank Reconciliation For the Month Ended June 30 Cash balance according to bank statement... Add outstanding checks: $16,185 $ 575 470 No. 1067.... 1106.. 1110.. 1,050 1113. 910 3,005 $19,190 Deduct deposit of June 30, not recorded by bank. Adjusted balance.. Cash balance according to company's records. Add: Proceeds of note collected by bank: Principal.. 6,600 $12,590 5 8,985 $6,000 300 $6,300 Interest... Service charges 15 $15,300 6,315 Deduct: Check returned because of insufficient funds. $ 890 5400 ... Error in recording June 17 deposit of $7,150 as $1,750 6,290 $ 9010 Adjusted balance.

Poway Co. Bank Reconciliation For the Month Ended June 30 Cash balance according to bank statement... Add outstanding checks: $16,185 $ 575 470 No. 1067.... 1106.. 1110.. 1,050 1113. 910 3,005 $19,190 Deduct deposit of June 30, not recorded by bank. Adjusted balance.. Cash balance according to company's records. Add: Proceeds of note collected by bank: Principal.. 6,600 $12,590 5 8,985 $6,000 300 $6,300 Interest... Service charges 15 $15,300 6,315 Deduct: Check returned because of insufficient funds. $ 890 5400 ... Error in recording June 17 deposit of $7,150 as $1,750 6,290 $ 9010 Adjusted balance.

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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A check for $2,560 to pay a vendor on account was recorded in the firm's records as $2,650; the canceled check was properly listed on the bank statement at $2,560. To arrive at an accurate balance on a bank reconciliation statement:
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