Using the following information: The bank statement balance is $5,175. The cash account balance is $5,503. Outstanding checks amounted to $712. Deposits in transit are $998. The bank service charge is $33. A check for $76 for supplies was recorded as $67 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $- Select - - Select - Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $- Select - - Select - Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14
Using the following information: The bank statement balance is $5,175. The cash account balance is $5,503. Outstanding checks amounted to $712. Deposits in transit are $998. The bank service charge is $33. A check for $76 for supplies was recorded as $67 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31 Cash balance according to bank statement $fill in the blank 1 Adjustments: $- Select - - Select - Total adjustments fill in the blank 6 Adjusted balance $fill in the blank 7 Cash balance according to company's records $fill in the blank 8 Adjustments: $- Select - - Select - Total adjustments fill in the blank 13 Adjusted balance $fill in the blank 14
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Using the following information:
- The bank statement balance is $5,175.
- The cash account balance is $5,503.
- Outstanding checks amounted to $712.
- Deposits in transit are $998.
- The bank service charge is $33.
- A check for $76 for supplies was recorded as $67 in the ledger.
Prepare a bank reconciliation for Candace Co. for May 31.
Candace Co.Bank ReconciliationMay 31
Cash balance according to bank statement | $fill in the blank 1 | |
Adjustments: | ||
|
$- Select - | |
|
- Select - | |
Total adjustments | fill in the blank 6 | |
Adjusted balance | $fill in the blank 7 | |
Cash balance according to company's records | $fill in the blank 8 | |
Adjustments: | ||
|
$- Select - | |
|
- Select - | |
Total adjustments | fill in the blank 13 | |
Adjusted balance | $fill in the blank 14 |
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