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Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35   Bank Statement Balance at (date)       Book Balance at (date)       Prepare the journal entry to reconcile the bank statement

Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35   Bank Statement Balance at (date)       Book Balance at (date)       Prepare the journal entry to reconcile the bank statement

FINANCIAL ACCOUNTING
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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  1. Using the following information, prepare a bank reconciliation.
  • Bank balance: $3,678
  • Book balance: $2,547
  • Deposits in transit: $321
  • Outstanding checks: $108 and $334
  • Bank charges: $25
  • Notes receivable: $1,000; interest: $35

 

Bank Statement Balance at (date)

 

 

 

Book Balance at (date)

 

 

 

Prepare the journal entry to reconcile the bank statement

 

 

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