Bank Reconciliation
Hassan Corporation's bank statement for October reports an ending balance of $23,612, whereas Hassan's cash account shows a balance of $23,211
on October 31. The following additional information is available:
a. A $810 deposit made on October 31 was not recorded by the bank until November.
b. At the end of October, outstanding checks total $1,222.
c. The bank statement shows bank service charges of $125 not yet recorded by the company.
d. The company erroneously recorded as $973 a check that it had actually written for $379. It was correctly processed by the bank.
e. A $480 check from a customer, deposited by the company on October 29, was returned with the bank statement for lack of funds.
Required:
1. Prepare the October bank reconciliation for Hassan Corporation.
Hassan Corporation
Bank Reconciliation Schedule
October 31
Cash balance from bank statement
$
Adjusted cash balance
Cash balance from company records
Less:
$
Adjusted cash balance
$
2. What amount will be reported as cash on the October 31 balance sheet?
$
