The accountant of Universe Manufacturing collected the following information: The balance as per bank statement is $2,560.32 on 30 June 2020. On this date, the balance of the company’s book is $3,730.32. In addition, the accountant found the following items: a) Deposits in transit $1,460 b) Outstanding checks: $730 c) Bank statement shows a bank collection from bill receivables $1,000 d) Bank statement shows Interest received of $150 e) Bank service charge in the bank statement is $340 Required: prepare bank reconciliation statement at 30 June 2020.
The accountant of Universe Manufacturing collected the following information: The balance as per bank statement is $2,560.32 on 30 June 2020. On this date, the balance of the company’s book is $3,730.32. In addition, the accountant found the following items: a) Deposits in transit $1,460 b) Outstanding checks: $730 c) Bank statement shows a bank collection from bill receivables $1,000 d) Bank statement shows Interest received of $150 e) Bank service charge in the bank statement is $340 Required: prepare bank reconciliation statement at 30 June 2020.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The accountant of Universe Manufacturing collected the following information: The balance as per bank statement is $2,560.32 on 30 June 2020. On this date, the balance of the company’s book is $3,730.32. In addition, the accountant found the following items:
a) Deposits in transit $1,460
b) Outstanding checks: $730
c) Bank statement shows a bank collection from bill receivables $1,000
d) Bank statement shows Interest received of $150
e) Bank service charge in the bank statement is $340
Required: prepare
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