Question

1. Bank Reconciliation Statement Preparation 20 Points Based on the following information prepare the bank reconciliation for Abco Corp in proper form. From Bank Statement: Balance at May 31: $11,560 Note and interest collected by bank: $3,300 NSF check: $400 Service charge for April: $75 Interest earned: $150 Deposit error overstating cash: $360 From Books: Balance per company books: $8,665 Deposit in transit: $1,200 Outstanding checks at 5/31: $850 Error in recording check #100: $90 From the company records the following is noted: Check #100 written by Abco- correct amount was $540, but was recorded on the books as $450. The check was properly recorded by the bank. Bank Reconciliation Statement Balance per bank statement $ Add: Deduct: Adjusted bank balance $ Balance per books $ Add: Deduct Adjusted book balance $

          1. Bank Reconciliation Statement Preparation 20 Points
Based on the following information prepare the bank reconciliation for Abco Corp in proper form.
From Bank Statement:
Balance at May 31: $11,560
Note and interest collected by bank: $3,300
NSF check: $400
Service charge for April: $75
Interest earned: $150
Deposit error overstating cash: $360
From Books:
Balance per company books: $8,665
Deposit in transit: $1,200
Outstanding checks at 5/31: $850
Error in recording check #100: $90
From the company records the following is noted:
Check #100 written by Abco- correct amount was $540, but was recorded on the books as $450.
The check was properly recorded by the bank.
Bank Reconciliation Statement
Balance per bank statement $
Add:
Deduct:
Adjusted bank balance $
Balance per books $
Add:
Deduct
Adjusted book balance $

1. Bank Reconciliation Statement Preparation 20 Points
Based on the following information prepare the bank reconciliation for Abco Corp in proper form.
From Bank Statement:
Balance at May 31: 11,560
Note and interest collected by bank:3,300
NSF check: 400
Service charge for April:75
Interest earned: 150
Deposit error overstating cash:360
From Books:
Balance per company books: 8,665
Deposit in transit:1,200
Outstanding checks at 5/31: 850
Error in recording check #100:90
From the company records the following is noted:
Check #100 written by Abco- correct amount was 540, but was recorded on the books as450.
The check was properly recorded by the bank.
Bank Reconciliation Statement
Balance per bank statement Add:
Deduct:
Adjusted bank balance
Balance per books Add:
Deduct
Adjusted book balance

Added by Ian C.

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