Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. bank reconciliation prepare a bank reconciliation

Bank reconciliation Prepare a bank reconciliation as of October 31 from the following information: a....

60.1K

Verified Solution

Question

Accounting

Bank reconciliation Prepare a bank reconciliation as of October 31 from the following information:

a. The October 31 cash balance in the general ledger is $1,688.

b. The October 31 balance shown on the bank statement is $746.

c. Checks issued but not returned with the bank statement were No. 462 for $26 and No. 483 for $100.

d. A deposit made late on October 31 for $900 is included in the general ledger balance but not in the bank statement balance.

e. Returned with the bank statement was a notice that a customers check for $150 that was deposited on October 25 had been returned because the customers account was overdrawn.

f. During a review of the checks that were returned with the bank statement, it was noted that the amount of Check No. 471 was $64 but that in the companys records supporting the general ledger balance, the check had been erroneously recorded as a payment of an account payable in the amount of $46.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Electrical Engineering
1.2K views

Call a log-space reduction a reduction that uses only O(logn) space in addition to the input itself, and...

Biology
1.2K views

The transport of minerals in the blood depends on the _______ function of water.

Biology
1.2K views

50 Aspartate is the precursor for which of the following amino acids B lysine A...

Physics
1.2K views

4 Four capacitors of each of capacity 3 F are connected as shown in the...

Geometry
1.2K views

5 Use the given statement bank to fill in the following two column proof Two...

Basic Math
1.2K views

14 What s one way to check the answer to 5 6 30 O A...

Basic Math
1.2K views

Draw a triangle that models the situation Then use the Pythagorean Identity to solve the...

Basic Math
1.2K views

Reduce the equation to standard form, plotthe vertex, focus ends of latus rectum. Findthe equation...

Calculus
1.2K views

Consider the function f x 20x e on the domain U On its domain the...

Accounting
1.2K views

Kyle, a single taxpayer, worked as a free-lance software engineer for the first three months...

Accounting
1.2K views

Ryan is self-employed. This year Ryan used his personal auto for several long business trips....

Accounting
1.2K views

Properly drafted organizing documents for an exempt organization include which of the following? A powers...