The World Bank forecasted growth of world trade to be 6.25%, up from 15.60%. This change caused Galapagos Islands Resort to analyze its current financial situation, beginning with reconciling its accounts. Galapagos Islands Resort received its bank statemen showing a balance of $10,712.40. Its checkbook balance is $16,137.00. Deposits in transit are $3,578.00 and $6,742.00. There is a service charge of $33.00 and interest earned of $3.40. Notes collected total $1,859.00. Outstanding checks are Number 1021 for $1,989.00 and Number 1022 for $1,077.00. All numbers are in U.S. dollars. Prepare Galapagos Islands Resort bank reconciliation Note: Input all amounts as positive values. Round your answers to 2 decimal places. Galapagos Islands Resort checkbook balance Add Deposits in transit (total) Subtotal Deduct: Reconciled balance BANK RECONCILIATION Bank balance Add: Subtotal Deduct: Reconciled balance
The World Bank forecasted growth of world trade to be 6.25%, up from 15.60%. This change caused Galapagos Islands Resort to analyze its current financial situation, beginning with reconciling its accounts. Galapagos Islands Resort received its bank statemen showing a balance of $10,712.40. Its checkbook balance is $16,137.00. Deposits in transit are $3,578.00 and $6,742.00. There is a service charge of $33.00 and interest earned of $3.40. Notes collected total $1,859.00. Outstanding checks are Number 1021 for $1,989.00 and Number 1022 for $1,077.00. All numbers are in U.S. dollars. Prepare Galapagos Islands Resort bank reconciliation Note: Input all amounts as positive values. Round your answers to 2 decimal places. Galapagos Islands Resort checkbook balance Add Deposits in transit (total) Subtotal Deduct: Reconciled balance BANK RECONCILIATION Bank balance Add: Subtotal Deduct: Reconciled balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mansukh
Transcribed Image Text:The World Bank forecasted growth of world trade to be 6.25%, up from 15.60%. This change caused Galapagos Islands Resort to
analyze its current financial situation, beginning with reconciling its accounts. Galapagos Islands Resort received its bank statement
showing a balance of $10,712.40. Its checkbook balance is $16,137.00. Deposits in transit are $3,578.00 and $6,742.00. There is a
service charge of $33.00 and interest earned of $3.40. Notes collected total $1,859.00. Outstanding checks are Number 1021 for
$1,989.00 and Number 1022 for $1,077.00. All numbers are in U.S. dollars.
Prepare Galapagos Islands Resort bank reconciliation
Note: Input all amounts as positive values. Round your answers to 2 decimal places.
Galapagos Islands Resort checkbook balance
Add:
Deposits in transit (total)
Subtotal
Deduct:
Reconciled balance
BANK RECONCILIATION
Bank balance
Add:
Subtotal
Deduct:
Reconciled balance
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