The following information is needed to reconcile the cash balance for Woods Paper Products. • A deposit of $5,794.62 is in transit.• Outstanding checks total $1,533.25.• The book balance is $5,695.62.• The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month'srent.• The bank balance at February 28, 2008, was $16,500.25.• A deposit of $300 was credited by the bank for $3,000.• A customer's check for $1,280 was returned for nonsufficient funds.• The bank service charge is $70. Required:Prepare company’s adjusted cash book and bank reconciliation for February 2013.
The following information is needed to reconcile the cash balance for Woods Paper Products. • A deposit of $5,794.62 is in transit.• Outstanding checks total $1,533.25.• The book balance is $5,695.62.• The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month'srent.• The bank balance at February 28, 2008, was $16,500.25.• A deposit of $300 was credited by the bank for $3,000.• A customer's check for $1,280 was returned for nonsufficient funds.• The bank service charge is $70. Required:Prepare company’s adjusted cash book and bank reconciliation for February 2013.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following information is needed to reconcile the cash balance for Woods Paper Products.
• A deposit of $5,794.62 is in transit.
• Outstanding checks total $1,533.25.
• The book balance is $5,695.62.
• The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month's
rent.
• The bank balance at February 28, 2008, was $16,500.25.
• A deposit of $300 was credited by the bank for $3,000.
• A customer's check for $1,280 was returned for nonsufficient funds.
• The bank service charge is $70.
Required:
Prepare company’s adjusted
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