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Question 415 Using the following information, prepare the bank reconciliation for Powers Company for May 31, 2013. • • • • The bank statement balance is $4,000. The cash account balance is $3,000. Outstanding checks totaled $1,500. Deposits in transit are $500. The bank service charge is $20. Interest reported on the bank statement was $10. A check for $10 was recorded as $100 in the ledger. An NSF check for $80 was returned with the statement.

Question 415 Using the following information, prepare the bank reconciliation for Powers Company for May 31, 2013. • • • • The bank statement balance is $4,000. The cash account balance is $3,000. Outstanding checks totaled $1,500. Deposits in transit are $500. The bank service charge is $20. Interest reported on the bank statement was $10. A check for $10 was recorded as $100 in the ledger. An NSF check for $80 was returned with the statement.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 7EA: Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance:...
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Question 415 Using the following information, prepare the bank reconciliation for Powers Company for May 31, 2013. • • • • The bank statement balance is $4,000. The cash account balance is $3,000. Outstanding checks totaled $1,500. Deposits in transit are $500. The bank service charge is $20. Interest reported on the bank statement was $10. A check for $10 was recorded as $100 in the ledger. An NSF check for $80 was returned with the statement.
Transcribed Image Text:Question 415 Using the following information, prepare the bank reconciliation for Powers Company for May 31, 2013. • • • • The bank statement balance is $4,000. The cash account balance is $3,000. Outstanding checks totaled $1,500. Deposits in transit are $500. The bank service charge is $20. Interest reported on the bank statement was $10. A check for $10 was recorded as $100 in the ledger. An NSF check for $80 was returned with the statement.
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