Using the following information, prepare a bank reconciliation. Bank balance: $6,888 Book balance: $6,650 Deposits in transit: $1,784 Outstanding checks: $569 and $1,423 Bank charges: $75 Bank incorrectly charged the account $75. The bank will correct the error next month. Check number 2456 correctly cleared the bank in the amount of $137 but posted in the accounting records as $317. This check was expensed to Utilities Expense.       Bank Reconciliation Bank Statement Balance at (date)   $fill in the blank 1 Add:         fill in the blank 3     fill in the blank 5 Less:         fill in the blank 7 Adjusted Bank Balance   $fill in the blank 8       Book Balance at (date)   $fill in the blank 9 Add:         fill in the blank 11 Less:         fill in the blank 13 Adjusted Book Balance   $fill in the blank 14

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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  1. Using the following information, prepare a bank reconciliation.

    • Bank balance: $6,888
    • Book balance: $6,650
    • Deposits in transit: $1,784
    • Outstanding checks: $569 and $1,423
    • Bank charges: $75
    • Bank incorrectly charged the account $75. The bank will correct the error next month.
    • Check number 2456 correctly cleared the bank in the amount of $137 but posted in the accounting records as $317. This check was expensed to Utilities Expense.

     

     
     
    Bank Reconciliation
    Bank Statement Balance at (date)   $fill in the blank 1
    Add:    
        fill in the blank 3
        fill in the blank 5
    Less:    
        fill in the blank 7
    Adjusted Bank Balance   $fill in the blank 8
         
    Book Balance at (date)   $fill in the blank 9
    Add:    
        fill in the blank 11
    Less:    
        fill in the blank 13
    Adjusted Book Balance   $fill in the blank 14
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