ank 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 balance sheet is prepared for Mathers Co. on July 31, what amount should be reported for cash? $fill in the blank cfdbbd00500cfe2_1 c.  Must a bank reconciliation always balance (reconcile)?

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Bank Reconciliation and Entries The cash account for Deaver Consulting at October 31, 20Y6, indicated a balance of $7,735. The bank statement indicated a balance of $9,930 on October 31, 20Y6. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: Checks outstanding totaled $3,570. A deposit of $3,720, representing receipts from October 31, had been made too late to appear on the bank statement. The bank had collected $1,940 on a note left for collection. The face of the note was $1,840. A check for $550 returned with the statement had been incorrectly recorded by Deaver Consulting as $500. The check was for the payment of an obligation to Oxford Office Supplies Co. for the purchase of office supplies on account. A check drawn for $530 had been incorrectly charged by the bank as $30. Bank service charges for October amounted to $45. Instructions: 1.  Prepare a bank reconciliation. Deaver…

Bank Reconciliation and Entries The cash account for American Medical Co. at April 30 indicated a balance of $11,670. The bank statement indicated a balance of $13,640 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: Checks outstanding totaled $4,910. A deposit of $5,120, representing receipts of April 30, had been made too late to appear on the bank statement. The bank collected $2,660 on a $2,520 note, including interest of $140. A check for $770 returned with the statement had been incorrectly recorded by American Medical Co. as $700. The check was for the payment of an obligation to Targhee Supply Co. for a purchase on account. A check drawn for $40 had been erroneously charged by the bank as $400. Bank service charges for April amounted to $50. Required: 1.  Prepare a bank reconciliation. 2.  Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The…