The bank account as a control device helps to protect cash. One of the requirements is to conduct periodic bank statement reconcilliations, Using the following data, complete the bank statement reconcilliation.
Use the information below to prepare the band reconcilliation for collier cleaners for the month of Septemeber.
.The bank statement indicated band service charges of $63
.Oustanding checks as of September 30 amounted to $1,045.
.Depositis in transit as of September 30 amounted to $2,769.
.The ending balance per the September bank statement is $40,753.
.Collier Cleaners bookkeepers mistakenly recorded a $1,610 cash disbursement as $1,160 for Office Supplies of check #2402
The bank mistakenly recorded a deposit of $2,800 as $280 on February 17.
.THe bank made and EFT payment on behalf of the company for insurance of $3,200.
.Bank collected rent of $3,000 and a note, for $16,450, including interest of $450.
.The ending cash balance per the books for September before any adjustments was $28,900.