Acme, Inc.'s books show an ending cash balance of $17,000 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $4,400, deposits in transit of $3,400, NSF check of $240, and interest earned on the bank account of $150, the company's up-to-date ending cash balance equals:
Acme, Inc.'s books show an ending cash balance of $17,000 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $4,400, deposits in transit of $3,400, NSF check of $240, and interest earned on the bank account of $150, the company's up-to-date ending cash balance equals:
Related questions
The balance in Happ, Inc.âs general ledger Cash account was$14,300 at September 30, before reconciliation. The September 30balance shown in the bank statement was $12,830. Reconciling itemsincluded deposits in transit, $1,370; bank service charges, $155;NSF check written by a customer and returned with the bankstatement, $620; outstanding checks, $550; and interest credited tothe account during September but not recorded on the companyâsbooks, $125.
Required:
Prepare a bank reconciliation as of September 30 for Happ,Inc.
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