Wright Company's cash account shows a $30,500 debit balance and its bank statement shows $28,800 on deposit at the close of
business on May 31.
a. The May 31 bank statement lists $250 in bank service charges; the company has not yet recorded the cost of these services.
b. Outstanding checks as of May 31 total $7,100.
c. May 31 cash receipts of $7,700 were placed in the bank's night depository after banking hours and were not recorded on the
May 31 bank statement.
d. In reviewing the bank statement, a $550 check written by Smith Company was mistakenly drawn against Wright's account.
e. The bank statement shows a $300 NSF check from a customer; the company has not yet recorded this NSF check.
Prepare its bank reconciliation using the above information.
WRIGHT COMPANY
Bank Reconciliation
May 31
Bank statement balance
Book balance
Add:
Add:
Deduct:
Deduct:
Adjusted bank balance
$
Adjusted book balance
$
