90.2K

Verified Solution

Link Copied!

Exercise 9.8 (Algo) Determining the adjusted bank balance. LO 9-9 Franco Company received a bank statement showing a balance of $11,800 on November 30, 20X1. During the bank reconciliation process, Franco Company's accountant noted the following bank errors: 1. A check for $141 issued by Frances, Incorporated, was mistakenly charged to Franco Company's account. 2. Check 2782 was written for $100 but was paid by the bank as $1,100. 3. Check 2920 for $75 was paid by the bank twice. 4. A deposit for $570 on November 22 was credited by the bank for $750. Assuming outstanding checks total $1,150, prepare the adjusted bank balance section of the November 30, 20X1, bank reconciliation.

Exercise 9.8 (Algo) Determining the adjusted bank balance. LO 9.9 Franco Company received a bank statement showing a balance of $11,800 on November 30,201. During the bank reconciliation process, Franco Company's accountant noted the following bank errors: 1. A check for $141 issued by Frances, incorporated, was mistakenly charged to Franco Company's account. 2. Check 2782 was written for $100 but was paid by the bank as $1,100. 3. Check 2920 for $75 was paid by the bank twice. 4. A deposit for $570 on November 22 was credited by the bank for $750. Assuming outstanding checks total \$1,150, prepare the adjusted bank balance section of the November 30, 20x1, bank reconciliation. Exercise 9.8 (Algo) Determining the adjusted bank balance. LO 9.9 Franco Company received a bank statement showing a balance of $11,800 on November 30,201. Ouring the bank reconciliation process, Franco Company's accountant noted the following bank errors: 1. A check for $141 issued by Frances, Incorporated, was mistakenly charged to Franco Company's account. 2. Check 2782 was written for $100 but was paid by the bank as $1,100. 3. Check 2920 for $75 was paid by the bank twice. 4. A deposit for $570 on November 22 was credited by the bank for $750. Assuming outstanding checks total $1,150, prepare the adjusted bank belance section of the November 30,201, bank reconciliation

Answer & Explanation Solved by verified expert

See Answer