Using the following information, prepare a bank reconciliation for Young Co. for August 31, 2009: a. The bank statement balance is $4,010. b. The cash account balance is $4,207. c. Outstanding checks amounted to $517. d. Deposits in transit are $633. e. The bank service charge is $45. f. A check for $84 for supplies was recorded as $48 in the ledger.
Using the following information, prepare a bank reconciliation for Young Co. for August 31, 2009: a. The bank statement balance is $4,010. b. The cash account balance is $4,207. c. Outstanding checks amounted to $517. d. Deposits in transit are $633. e. The bank service charge is $45. f. A check for $84 for supplies was recorded as $48 in the ledger.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Using the following information, prepare a bank reconciliation for Young Co. for August 31, 2009:
a. The bank statement balance is $4,010.
b. The cash account balance is $4,207.
c. Outstanding checks amounted to $517.
d. Deposits in transit are $633.
e. The bank service charge is $45.
f. A check for $84 for supplies was recorded as $48 in the ledger.
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