edugen/lti/main.uni i. Practice Test for Exam 2-Acce..d WileyPLUS S Kimmel, Fina

Question

edugen/lti/main.uni i. Practice Test for Exam 2-Acce..d WileyPLUS S Kimmel, Financial Accounting, Be, Custom for University of Akron Help I System Announcements Exercise 216 Using the following information, prepare a bank reconciliation for Ham a. The bank statement balance is $7,650. b. The cash account balance is $6,422. c. Outstanding checks totaled $1,650. d. Deposits in transit are $900. e. The bank service charge is $22. f. Collection of note by bank, $500. mond Company for June 30, 2017. Hammond Company Bank R June 30, 2017

Explanation / Answer

Bank reconciliation

Unadjusted balance per bank 7650 Add: Deposit in transit 900 8550 Less: Outstanding checks (1650) Adjusted balance per book 6900 Unadjusted balance per book 6422 Add: Collection of note 500 6922 Less: Bank charges (22) Adjusted balance per book 6900

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