The Cash account of Lydia reported a balance of RM2, 540 at December 31, 2018. There were outstanding checks totaling $400 and a December 31 deposit in transit of $100. The bank statement, which came from Park Bank, listed the December 31 balance of RM3, 340. Included in the bank balance was a collection of RM510 on account from Bella, a Lydia customer who pays the bank directly. The bank statement also shows a RM30 service charge and RM20 of interest revenue that Lydia earned on its bank balance. Prepare Lydia's bank reconciliation at December 31.
The Cash account of Lydia reported a balance of RM2, 540 at December 31, 2018. There were outstanding checks totaling $400 and a December 31 deposit in transit of $100. The bank statement, which came from Park Bank, listed the December 31 balance of RM3, 340. Included in the bank balance was a collection of RM510 on account from Bella, a Lydia customer who pays the bank directly. The bank statement also shows a RM30 service charge and RM20 of interest revenue that Lydia earned on its bank balance. Prepare Lydia's bank reconciliation at December 31.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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![The Cash account of Lydia reported a balance of RM2, 540 at December 31, 2018.
There were outstanding checks totaling $400 and a December 31 deposit in
transit of $100. The bank statement, which came from Park Bank, listed the
December 31 balance of RM3, 340. Included in the bank balance was a collection
of RM510 on account from Bella, a Lydia customer who pays the bank directly.
The bank statement also shows a RM30 service charge and RM20 of interest
revenue that Lydia earned on its bank balance. Prepare Lydia's bank
reconciliation at December 31.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe86f3f0a-fb0e-470a-8dff-4e986320a3b4%2Fbc8f2b8d-ed24-40bb-a13c-613d0d720f84%2Fdyrlfdd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The Cash account of Lydia reported a balance of RM2, 540 at December 31, 2018.
There were outstanding checks totaling $400 and a December 31 deposit in
transit of $100. The bank statement, which came from Park Bank, listed the
December 31 balance of RM3, 340. Included in the bank balance was a collection
of RM510 on account from Bella, a Lydia customer who pays the bank directly.
The bank statement also shows a RM30 service charge and RM20 of interest
revenue that Lydia earned on its bank balance. Prepare Lydia's bank
reconciliation at December 31.
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