Sarah has received her bank statement for the month ending November 30, which showed the following: Ending balance $641.50 Service charge 15.00 ATM Withdrawal 70.00 Interest earned .50 After reviewing the checkbook and bank statement, she determines that: The November 30 checkbook balance is $1,136.00 Bank service charges, an ATM withdrawal, and interest had not been recorded. A $954.00 deposit made on November 30 is not on the bank statement. Outstanding checks total $544.00. Prepare a bank reconciliation in proper format.
Sarah has received her bank statement for the month ending November 30, which showed the following: Ending balance $641.50 Service charge 15.00 ATM Withdrawal 70.00 Interest earned .50 After reviewing the checkbook and bank statement, she determines that: The November 30 checkbook balance is $1,136.00 Bank service charges, an ATM withdrawal, and interest had not been recorded. A $954.00 deposit made on November 30 is not on the bank statement. Outstanding checks total $544.00. Prepare a bank reconciliation in proper format.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
- Sarah has received her bank statement for the month ending November 30, which showed the following:
Ending balance $641.50
Service charge 15.00
ATM Withdrawal 70.00
Interest earned .50
After reviewing the checkbook and bank statement, she determines that:
The November 30 checkbook balance is $1,136.00
Bank service charges, an ATM withdrawal, and interest had not been recorded.
A $954.00 deposit made on November 30 is not on the bank statement.
Outstanding checks total $544.00.
Prepare a bank reconciliation in proper format.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education