The Following Information Is Needed to Reconcile the Cash Balance

Essay

The following information is needed to reconcile the cash balance for Woods Paper Products.
• A deposit of $5 794.62 is in transit.
• Outstanding cheques total $1 533.25.
• The book balance is $5 695.62.
• The bookkeeper recorded a $1 524.00 cheque as $15 240 in payment of the current month's rent.
• The bank balance at 28 February 2013 was $16 500.25.
• A deposit of $300 was credited by the bank for $3 000.
• A customer's cheque for $1 280 was returned for nonsufficient funds.
• The bank service charge is $70.
Based on this information, complete a bank reconciliation, in the format below, for Woods Paper Products as of 28 February 2013.