EA 11 Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book...
50.1K
Verified Solution
Link Copied!
Question
Accounting
EA 11
Using the following information, prepare a bank reconciliation.
Bank balance: $6,988
Book balance: $6,626
Deposits in transit: $1,600
Outstanding checks: $599 and $1,423
Bank charges: $75
Bank incorrectly charged the account $75. The bank will correct the error next month.
Check number 2456 correctly cleared the bank in the amount of $234 but posted in the accounting records as $324. This check was expensed to Utilities Expense.
EA 12.
Prepare the journal entry to reconcile the bank statement for the above information
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
