Excel Applications for Accounting Principles 4th Edition by Gaylord Smith

Exercise 2

PROBLEM DATA
Skye Boats deposits all receipts in a night depository after banking hours. The data needed to reconcile the bank statement as of October 31, 2011, have been extracted from records and are as follows:


REQUIREMENT
Open the file BANKREC from the website for this book at cengagebrain.com. Enter the formulas where indicated on the worksheet. Prepare a bank reconciliation statement as of October 31. Assume that all errors are the depositors' fault. Checks 754-757 were for salaries; all other checks were payments to suppliers on account. The reconciliation is not complete until the difference between the adjusted balances (cell C45) is zero. Enter your name in cell A1. Save your completed file as OCT31. Print the worksheet. Also print your formulas. Check figure: Adjusted balance (cell E25), $9,996.60.