Problem 2: Prepare the reconciliation statement for Goldsmith Financial Services for August 31. Checkbook balance $2100 Deposits in transit $400 Bank statement balance $3000 Collection of note receivable $810 Service charge for the month $30 Outstanding checks $1100 EFT check $580

Problem 2: Prepare the reconciliation statement for Goldsmith Financial Services for August 31. Checkbook balance $2100 Deposits in transit $400 Bank statement balance $3000 Collection of note receivable $810 Service charge for the month $30 Outstanding checks $1100 EFT check $580

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Problem 2: Prepare the reconciliation statement for Goldsmith Financial Services for
August 31.
Checkbook balance $2100
Deposits in transit $400
Bank statement balance $3000
Collection of note receivable $810
Service charge for the month $30
Outstanding checks $1100
EFT check $580

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