E5.8

Crazy0536

Main

Home >Homework Answsers >Business & Finance homework help >Accounting homework help

Bank reconciliation Prepare a bank reconciliation as of August 31 from the

following information

a. The August 31 balance shown on the bank statement is $4,905.

Bank statement

$4,905

b. There is a deposit in transit of $630 at August 31.

DIT

$630

c. Outstanding checks at August 31 totaled $945.

OS-Checks

$945

d. Interest credited to the account during August but not recorded on the company's books amounted to $54

Interest

$54

e. A bank charge of $28 for checks was made to the account during August. Although the company was expecting a charge, its amount was not known until the bank statement arrived

Bank Charge-new checks

$28

f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of P of 759 had been recorded as a disbursement of $579

Check error

$180

g. The August 31 balance in the general ledger Cash account, before reconciliation, is $4,744

Check book Balance

$4,744

Balance per Bank

$4,905

Balance per books

$4,744