Your assistant prepared the following bank reconciliation statement. It appears that the statement Iis unacceptable and the task of preparing a proper reconciliation falls upon you. Brandon Company Bank Reconciliation May 31, 202e Balance per books May 31 $ 9,see Add: Electronic Fund Transfer Deposit in transit $1,060 2,455 3,515 $13,015 Deduct: Bank charges NSF cheque, Rhonda Teal Outstanding cheques Error in cheque 78: correctly issued and processed by the bank for $762, but incorrectly recorded in the books as $726 (Accounts Payable-Delta Co.) 1e see 1,8ee 36 2,346 Indicated bank balance $1e,669 9,359 $ 1,310 Balance per bank statement Discrepancy Required: 1. Prepare a proper bank reconciliation showing the true Cash balance.

Your assistant prepared the following bank reconciliation statement. It appears that the statement Iis unacceptable and the task of preparing a proper reconciliation falls upon you. Brandon Company Bank Reconciliation May 31, 202e Balance per books May 31 $ 9,see Add: Electronic Fund Transfer Deposit in transit $1,060 2,455 3,515 $13,015 Deduct: Bank charges NSF cheque, Rhonda Teal Outstanding cheques Error in cheque 78: correctly issued and processed by the bank for $762, but incorrectly recorded in the books as $726 (Accounts Payable-Delta Co.) 1e see 1,8ee 36 2,346 Indicated bank balance $1e,669 9,359 $ 1,310 Balance per bank statement Discrepancy Required: 1. Prepare a proper bank reconciliation showing the true Cash balance.

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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