The following information is needed to reconcile the cash balance for Monique Company. • A deposit of $5,800 is in transit. • Outstanding checks total $1,500. • The book balance is $9,800 at February 28, 2018. • The bookkeeper recorded a $1,740 check as $17,400 in payment of the current month's rent. • The bank balance at February 28, 2018 was $21,000. • A deposit of $400 was credited by the bank for $4,000. • A customer's check for $3,700 was returned for nonsufficient funds. • The bank service charge is $60. Based on this information, prepare a bank reconciliation for Monique Company as of February 28, 2018.
The following information is needed to reconcile the cash balance for Monique Company. • A deposit of $5,800 is in transit. • Outstanding checks total $1,500. • The book balance is $9,800 at February 28, 2018. • The bookkeeper recorded a $1,740 check as $17,400 in payment of the current month's rent. • The bank balance at February 28, 2018 was $21,000. • A deposit of $400 was credited by the bank for $4,000. • A customer's check for $3,700 was returned for nonsufficient funds. • The bank service charge is $60. Based on this information, prepare a bank reconciliation for Monique Company as of February 28, 2018.
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...
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The following information is needed to reconcile the cash balance for Monique Company.
• A deposit of $5,800 is in transit.
• Outstanding checks total $1,500.
• The book balance is $9,800 at February 28, 2018.
• The bookkeeper recorded a $1,740 check as $17,400 in payment of the current month's rent.
• The bank balance at February 28, 2018 was $21,000.
• A deposit of $400 was credited by the bank for $4,000.
• A customer's check for $3,700 was returned for nonsufficient funds.
• The bank service charge is $60.
Based on this information, prepare a bank reconciliation for Monique Company as of February 28, 2018.
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