ACC 400 Week 1 E-Text Individual Assignments - Problem Set P7-3B & Exercise E9.4 & Exercise 9.8
Week 1: E-text Individual Assignments
Financial Accounting: Tools for Business Decision Making, 4th edition
Chapter 7: Problem Set B: P7-3B
a) Prepare the bank reconciliation as of May 31, 2007.
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GALENTI COMPANY |
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Bank Reconciliation |
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May 31, 2007 |
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| Cash balance per bank statement |
$7,964.60 |
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| Add: | Deposits in transit |
$836.15 |
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| Bank error - Gallen Company check |
290.00 |
1,126.15 |
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9,090.75 |
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| Less: | Outstanding checks |
806.25 |
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| Adjusted cash balance per bank |
$8,284.50 |
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