Your assistant prepared the following bank reconciliation statement. It appears that the statement Is unacceptable and the task of preparing a proper reconciliation falls upon you. Brandon Company Bank Reconciliation May 31, 2020 Balance per books May 31 Add: $ 9,500 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.) Indicated bank balance 10 see 1, Bee 36 2,346 $10,669 9,359 $ 1,310 Balance per bank statement Discrepancy

Your assistant prepared the following bank reconciliation statement. It appears that the statement Is unacceptable and the task of preparing a proper reconciliation falls upon you. Brandon Company Bank Reconciliation May 31, 2020 Balance per books May 31 Add: $ 9,500 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.) Indicated bank balance 10 see 1, Bee 36 2,346 $10,669 9,359 $ 1,310 Balance per bank statement Discrepancy

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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Hello I do not know if I am doing this Bank Reconciliation correclty. I really need help solving this problem.
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