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Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 Cash balance according to company's records Add: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 Note for $10,100 collected by bank, including interest Deduct: Deposit in transit on August 31 Bank service charges Cash balance according to bank statement $3,090 450 10,500 $6,560 70 $6,440 14,040 $20,480 6,630 $13,850 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in t Chesner Co. Bank Reconciliation August 31

Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 Cash balance according to company's records Add: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 Note for $10,100 collected by bank, including interest Deduct: Deposit in transit on August 31 Bank service charges Cash balance according to bank statement $3,090 450 10,500 $6,560 70 $6,440 14,040 $20,480 6,630 $13,850 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in t Chesner Co. Bank Reconciliation August 31

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 7.3BE
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Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 Cash balance according to company's records Add: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 Note for $10,100 collected by bank, including interest Deduct: Deposit in transit on August 31 Bank service charges Cash balance according to bank statement K $3,090 U 450 10,500 $6,560 70 $6,440 14,040 $20,480 6,630 $13,850 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in the Exh Chesner Co. Bank Reconciliation August 31 Cash balance according to bank statement
Transcribed Image Text:Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 Cash balance according to company's records Add: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 Note for $10,100 collected by bank, including interest Deduct: Deposit in transit on August 31 Bank service charges Cash balance according to bank statement K $3,090 U 450 10,500 $6,560 70 $6,440 14,040 $20,480 6,630 $13,850 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in the Exh Chesner Co. Bank Reconciliation August 31 Cash balance according to bank statement
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