Using the following information, calculate the adjusted bank balance. • Bank balance: $12,565. • Book balance: $13,744. • Deposits in transit: $2,509. • Outstanding checks: $1,777. • Bank charges: $125. • Bank incorrectly charged the account for $153. The bank will correct the error next month. • Check number 1879 correctly cleared the bank in the amount of $562 but posted in the accounting records as $652. This check was expensed to Utilities Expense.

Using the following information, calculate the adjusted bank balance. • Bank balance: $12,565. • Book balance: $13,744. • Deposits in transit: $2,509. • Outstanding checks: $1,777. • Bank charges: $125. • Bank incorrectly charged the account for $153. The bank will correct the error next month. • Check number 1879 correctly cleared the bank in the amount of $562 but posted in the accounting records as $652. This check was expensed to Utilities Expense.

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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