Question

Sunland Wyatt is unable to reconcile the bank balance at January 31. Sunland’s reconciliation is as follows.

Cash balance per bank		$4,340.20
Add: NSF check		300
Less: Bank service charge		31
Adjusted balance per bank		$4,609.20
Cash balance per books		$4,655.20
Less: Deposits in transit		920
Add: Outstanding checks		936
Adjusted balance per books		$4,671.20

(a)

Prepare a correct bank reconciliation. (List items that increase cash balance first. Round answers to 2 decimal places, e.g. 52.75.)

Sunland Wyatt Bank Reconciliation
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Answer 1

Sunland Wyatt
Bank Reconciliation
January 31
Cash balance per bank		4,340.20
Add: Deposit in transit		920.00
		5,260.20
Less:Outstanding checks		-936.00
Adjusted bank balance		4,324.20
Cash balance per books		4,655.20
Less:
Bank Service charge	31
NSF Check	300
		-331.00
Adjusted book balance		4,324.20

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