scoleman
Mar 10, 2011, 08:23 AM
The cash account for Interactive Systems at February 28, 2010 indicated a balnce of $7,635. The bank statement indicated a balance of $13,333 on February 28, 2010. Comparing the bank statement and the accompanying canceled checks and memos with the records refveals the following reconciling items:
a. Checks outstanding totaled $4,118
b. A deposit of $4,500, representing receipts of February 28, had been made too late to appear on the bank statement.
c. The bank had collected $5,200 on a note left for collection. The face of the note was $5,000.
d. A check for $290 returned with the statement had been incorrectly recorded by Interactives Systems as $920. The check was for the payment of an obligation to Busser Co. for the purchase of office supplies on account.
e. A check drawn for $415 had been incorrectly charged by the bank as $145.
f. Bank service charges for February amounted to $20.
a. Checks outstanding totaled $4,118
b. A deposit of $4,500, representing receipts of February 28, had been made too late to appear on the bank statement.
c. The bank had collected $5,200 on a note left for collection. The face of the note was $5,000.
d. A check for $290 returned with the statement had been incorrectly recorded by Interactives Systems as $920. The check was for the payment of an obligation to Busser Co. for the purchase of office supplies on account.
e. A check drawn for $415 had been incorrectly charged by the bank as $145.
f. Bank service charges for February amounted to $20.