Bundle: Corporate Financial Accounting, Loose-leaf Version, 14th + LMS Integrated for CengageNOWv2, 1 term Printed Access Card
Bundle: Corporate Financial Accounting, Loose-leaf Version, 14th + LMS Integrated for CengageNOWv2, 1 term Printed Access Card
14th Edition
ISBN: 9781337130714
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 7, Problem 7.22EX
To determine

(a)

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

To identify: The errors in the bank reconciliation.

(b)

To determine

To prepare: New bank reconciliation for P Co. 

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