AT&T; LTE 10:33 PM ezto.mheducation.com nnect na Mike instructions help The bala

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AT&T; LTE 10:33 PM ezto.mheducation.com nnect na Mike instructions help The balance in Happ, Inc.'s general ledger Cash account was $12,650 at September 30, before reconciliation. The September 30 balance shown in the bank statement was $11,330. Reconciling items included deposits in transit, $1,220, bank service charges $80: NSF check written by a customer and retumed with the bank statement, $470, outstanding checks, $400; and interest credited to the account during September but not recorded on the company's books, $50. Show the reconciling items in a horizontal model that should be prepared to reflect the reconciling items for Happ, Inc., at September 30. (Enter decreases to account balances as a negative.) What is the amount of cash to be included in the September 30 balance sheet for the company's bank account?

Explanation / Answer

Bank reconcilation statement: Balance as per bank statement at sep 30    11,330 ADD: deposit in transit      1,220 Less: outstanding checks       (400) Corrected balance as per bank    12,150 Balance as per General ledger at sep 30    12,650 Less: Bank service charges          (80) NSF check return       (470) Add: Interest earned            50 Corrected balance as per books    12,150

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