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Wright Company's cash account shows a $28,900 debit balance and its bank statement shows $27,200 on deposit at the close of business on May 31. a. The May 31 bank statement lists $170 in bank service charges, the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,300. c. May 31 cash receipts of $6,900 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement d. In reviewing the bank statement, a $470 check written by Smith Company was mistakenly drawn against Wright's account. e. The bank statement shows a $460 NSF check from a customer; the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information. Bank statement balance Add WRIGHT COMPANY Bank Reconciliation May 31 Book balance Add

Wright Company's cash account shows a $28,900 debit balance and its bank statement shows $27,200 on deposit at the close of business on May 31. a. The May 31 bank statement lists $170 in bank service charges, the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,300. c. May 31 cash receipts of $6,900 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement d. In reviewing the bank statement, a $470 check written by Smith Company was mistakenly drawn against Wright's account. e. The bank statement shows a $460 NSF check from a customer; the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information. Bank statement balance Add WRIGHT COMPANY Bank Reconciliation May 31 Book balance Add

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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Wright Company's cash account shows a $28,900 debit balance and its bank statement shows $27,200 on deposit at the close of business on May 31 a. The May 31 bank statement lists $170 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,300 c. May 31 cash receipts of $6,900 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement d. In reviewing the bank statement, a $470 check written by Smith Company was mistakenly drawn against Wright's account. e. The bank statement shows a $460 NSF check from a customer; the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information. Bank statement balance Add WRIGHT COMPANY Bank Reconciliation May 31 Book balance Add
Transcribed Image Text:Wright Company's cash account shows a $28,900 debit balance and its bank statement shows $27,200 on deposit at the close of business on May 31 a. The May 31 bank statement lists $170 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,300 c. May 31 cash receipts of $6,900 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement d. In reviewing the bank statement, a $470 check written by Smith Company was mistakenly drawn against Wright's account. e. The bank statement shows a $460 NSF check from a customer; the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information. Bank statement balance Add WRIGHT COMPANY Bank Reconciliation May 31 Book balance Add
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