Using the following information, prepare a bank reconciliation for Quincy Co. for May 31 of the current year:(a)The bank statement balance is $3,015.(b)The cash account balance is $2,813.(c)Outstanding checks amounted to $958.(d)Deposits in transit are $714.(e)The bank service charge is $33.(f)A check for $76 for supplies was previously recorded as $67 in the ledger. Quincy Co.Bank ReconciliationMay 31, 2022Balance according to the bank statement: Adjusted balance per the bank statement $ Balance according to the depositor’s records: Adjusted balance per the depositor’s records $

Bank reconciliation statement is the statement which is prepared by the entity to reconcile the…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Using the following information, prepare a bank reconciliation for Quincy Co. for May 31 of the current year:

(a)	The bank statement balance is $3,015.
(b)	The cash account balance is $2,813.
(c)	Outstanding checks amounted to $958.
(d)	Deposits in transit are $714.
(e)	The bank service charge is $33.
(f)	A check for $76 for supplies was previously recorded as $67 in the ledger.

Quincy Co. Bank Reconciliation May 31, 2022
Balance according to the bank statement:



Adjusted balance per the bank statement		$

Balance according to the depositor’s records:


Adjusted balance per the depositor’s records		$

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