FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Bank Reconciliation
The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:
- Cash balance according to the company's records at July 31 $16,420.
- Cash balance according to the bank statement at July 31, $17,560.
- Checks outstanding, $3,330.
- Deposit in transit, not recorded by bank, $2,680.
- A check for $170 in payment of an account was erroneously recorded in the check register as $710.
- Bank debit memo for service charges, $50.
a. Prepare a bank reconciliation, using the format shown in Exhibit 14.
Mathers Co. | |
Bank Reconciliation | |
July 31 | |
Cash balance according to bank statement | $fill in the blank b0c1bd0ddfd500a_1 |
fill in the blank b0c1bd0ddfd500a_3 | |
fill in the blank b0c1bd0ddfd500a_5 | |
Adjusted balance | $fill in the blank b0c1bd0ddfd500a_6 |
Cash balance according to company's records | $fill in the blank b0c1bd0ddfd500a_7 |
fill in the blank b0c1bd0ddfd500a_9 | |
fill in the blank b0c1bd0ddfd500a_11 | |
Adjusted balance | $fill in the blank b0c1bd0ddfd500a_12 |
b. If the
$fill in the blank cfdbbd00500cfe2_1
c. Must a bank reconciliation always balance (reconcile)?
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