Q1) Create a bank Reconciliation as of August 31 from information given below:
a) August 31 balance shown on the bank statement is $9,810
b) There is a deposit in transit of 1,260 at August 31
c) Outstanding checks at august 31 totaled 1890
d) Interest credited to the account during august but not recorded on the company's book amounted to 108
e) Bank charge of $36 for check was made to account during august. Though company was expecting a charge, its amount was not known until bank statement arrived
f) In the process of reviewing canceled checks, it was determined that checks issued to supplier in payments of account payable of $631 had been recorded as disbursement of $361
g) August 31 balance in general ledger Cash account before reconciliations is 9378
Questions:
1. Compute the beginning balance per the bank?
2. Compute the beginning balance per the books?
3. Calculate the total amount of outstanding checks?
4. Calculate the total amount of deposits in transits?
5. Compute the total amount of the interest earned?
6. Compute the total amount of the errors?
7. Calculate the adjusted or reconciled balance per the bank?
8. Compute the adjusted or reconciled balance per the books?