70.2K

Verified Solution

Link Copied!

***** PLEASE READ *****

The options are

Outstanding checks , bank error , bank service charges, interest earned, Deposit of Aug 31st, NSF Check, Bank error

This is my 3rd post 2 have been wrong I need both bank and book balance.

THERE IS NOTHING MISSING ?????

Prepare a bank reconciliation using the above information. ORGANIC FOOD CO. Bank Reconciliation Bank statement balance August 31 Book balance Add: Add: Deduct: Deduct: Adjusted bank balance $ 0 Adjusted book balance QS 6-9 Bank reconciliation LO P3 Organic Food Co.'s cash account shows a $6,800 debit balance and its bank statement shows $6,070 on deposit at the close of business on August 31. a. August 31 cash receipts of $2,540 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $250 NSF check from a customer; the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $2,420. d. In reviewing the bank statement, an $210 check written by Organic Fruits was mistakenly drawn against Organic Food's account. e. The August 31 bank statement lists $150 in bank service charges; the company has not yet recorded the cost of these services. Prepare a bank reconciliation using the above information

Answer & Explanation Solved by verified expert

See Answer