Question

1. Prepare the bank reconciliation statement as of April 30, 2020. (10) (a) The bank statement...

1. Prepare the bank reconciliation statement as of April 30, 2020. (10)

  1. (a) The bank statement balance is $18,900.

  2. (b) The cash account balance is $17,787.

  3. (c) Outstanding checks amounted to $8,000.

  4. (d) Deposits in transit from sales are $6,000.

  5. (e) The bank service charge is $60.

  6. (f) NSF Check from Customer Mike for $800.

    Check #2146 for $152, written to pay supplies expense, was incorrectly recorded in the books for $125.

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Answer #1
Bank Reconciliation Statement
Balance as per Bank Statement $18,900
Additions:
Deposits in transit $ 6,000
Subtotal $24,900
Deductions:
Outstanding checks $ 8,000
Adjusted balance as per bank statement $16,900
Balance as per Books $17,787
Additions
Subtotal $17,787
Deductions:
Service charges not recorded $       60
NSF checks $     800
Error in recording in supplies expens (152-125) $       27
Adjusted balance as per books $16,900
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