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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 23
Determining the adjusted bank balance.
Fierro Company received a bank statement showing a balance of $12,800 on November 30, 2013. During the bank reconciliation process, Fierro's accountant noted the following bank errors:
1. A check for $151 issued by Ferro, Inc., was mistakenly charged to Fierro Company's account.
2. Check 2782 was written for $200 but was paid by the bank as $1,200.
3. Check 2920 for $85 was paid by the bank twice.
4. A deposit for $580 on November 22 was credited by the bank for $850.
Assuming outstanding checks total $2,150, prepare the adjusted bank balance section of the November 30, 2013, bank reconciliation.
Fierro Company received a bank statement showing a balance of $12,800 on November 30, 2013. During the bank reconciliation process, Fierro's accountant noted the following bank errors:
1. A check for $151 issued by Ferro, Inc., was mistakenly charged to Fierro Company's account.
2. Check 2782 was written for $200 but was paid by the bank as $1,200.
3. Check 2920 for $85 was paid by the bank twice.
4. A deposit for $580 on November 22 was credited by the bank for $850.
Assuming outstanding checks total $2,150, prepare the adjusted bank balance section of the November 30, 2013, bank reconciliation.
Explanation
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The difference in the bank statement and...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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