Using the following information:The bank statement balance is $4,044.The cash account balance is $4,369.Outstanding checks amounted to $676.Deposits in transit are $927.The bank service charge is $65.A check for $68 for supplies was recorded as $59 in the ledger.Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31Cash balance according to bank statement $Adjustments: $ Total adjustments Adjusted balance $Cash balance according to company's records $Adjustments: $ Total adjustments Adjusted balance $

Bank Reconciliation is statement prepared to reconcile the difference between balance in bank…

Answered: Using the following information: The…

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:

The bank statement balance is $4,044.
The cash account balance is $4,369.
Outstanding checks amounted to $676.
Deposits in transit are $927.
The bank service charge is $65.
A check for $68 for supplies was recorded as $59 in the ledger.

Prepare a bank reconciliation for Candace Co. for May 31.



Candace Co. Bank Reconciliation May 31
Cash balance according to bank statement		$
Adjustments:
	$

Total adjustments
Adjusted balance		$
Cash balance according to company's records		$
Adjustments:
	$

Total adjustments
Adjusted balance		$

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