You have received the bank statement for your company\'s account and need to rec
ID: 2373568 • Letter: Y
Question
You have received the bank statement for your company's account and need to reconcile it with your cash T-account. Your records show an ending balance for the month of $12,792.40 while the bank's records show an ending balance of $12,396.36.
The bank charged $8.00 in service fees and paid $25.25 in interest. All but three checks written during the month were processed by the bank without incident during the month. The three exceptions were:
Check #841 was correctly processed by the bank as $801.27 but was mistakenly recorded by you as $501.27.
All but two of the deposits made during the month were processed by the bank without incident. The two exceptions were:
A customer check for $325.95, which had been deposited during the month, was returned NSF.
Using the information provided above, prepare a bank reconciliation. (Input all amounts as positive values. Round your answers to 2 decimal places. Omit the "$" sign in your response.)
You have received the bank statement for your company's account and need to reconcile it with your cash T-account. Your records show an ending balance for the month of $12,792.40 while the bank's records show an ending balance of $12,396.36.
The bank charged $8.00 in service fees and paid $25.25 in interest. All but three checks written during the month were processed by the bank without incident during the month. The three exceptions were:
Explanation / Answer
Bank balance $12,396.36 Company%u2019s book balance $12,792.40
Outstanding CK - 63.57 Service fees - 8
Outstanding CK - 763.46 Interest earned + 25.25
Transit deposit + 614.37 Check error - 300
Returned NSF - 325.95
Ending Balance $12,183.7 Ending Balance $12,183.7
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