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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
-
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
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education