Using the following information: a. The bank statement balance is $4,340. b. The cash account balance is $4,999. c. Outstanding checks amount to $607. d. Deposits in transit are $1,197. e. The bank service charge is $60. f. A check for $36 for supplies was recorded as $27 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31.

Using the following information: a. The bank statement balance is $4,340. b. The cash account balance is $4,999. c. Outstanding checks amount to $607. d. Deposits in transit are $1,197. e. The bank service charge is $60. f. A check for $36 for supplies was recorded as $27 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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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