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Swifty Industries provided the following information for the month of February. 1. 2. 3. 4. 5 6 7 8 a b C Balance per bank on February 28-$25,486 Balance per books on February 28-$26,412 Total outstanding checks at February 28-$1,722 Debit memoranda: NSF check from Sanderson, Inc.-$369 Printing company checks-$17 Electronic payment to bank for a loan-$1,820. Of this amount, $74 is interest. Credit memorandum: EFT from customer for $1.190 A check written this month to City Utilities and cleared the bank at the correct amount of $1,468, but was recorded at $1,533. The bank charged a $221 check of ABC Company against Swifty Industries' account. Deposit in transit on February 28-$1.476

Swifty Industries provided the following information for the month of February. 1. 2. 3. 4. 5 6 7 8 a b C Balance per bank on February 28-$25,486 Balance per books on February 28-$26,412 Total outstanding checks at February 28-$1,722 Debit memoranda: NSF check from Sanderson, Inc.-$369 Printing company checks-$17 Electronic payment to bank for a loan-$1,820. Of this amount, $74 is interest. Credit memorandum: EFT from customer for $1.190 A check written this month to City Utilities and cleared the bank at the correct amount of $1,468, but was recorded at $1,533. The bank charged a $221 check of ABC Company against Swifty Industries' account. Deposit in transit on February 28-$1.476

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 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...
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Swifty Industries provided the following information for the month of February. 2. 3. 5 6 7 8 Balance per bank on February 28-$25,486 Balance per books on February 28-$26,412 Total outstanding checks at February 28-$1,722 Debit memoranda: NSF check from Sanderson, Inc.-$369 Printing company checks-$17 C Electronic payment to bank for a loan-$1,820. Of this amount, $74 is interest. Credit memorandum: EFT from customer for $1,190 A check written this month to City Utilities and cleared the bank at the correct amount of $1,468, but was recorded at $1,533. a b The bank charged a $221 check of ABC Company against Swifty Industries' account. Deposit in transit on February 28-$1,476
Transcribed Image Text:Swifty Industries provided the following information for the month of February. 2. 3. 5 6 7 8 Balance per bank on February 28-$25,486 Balance per books on February 28-$26,412 Total outstanding checks at February 28-$1,722 Debit memoranda: NSF check from Sanderson, Inc.-$369 Printing company checks-$17 C Electronic payment to bank for a loan-$1,820. Of this amount, $74 is interest. Credit memorandum: EFT from customer for $1,190 A check written this month to City Utilities and cleared the bank at the correct amount of $1,468, but was recorded at $1,533. a b The bank charged a $221 check of ABC Company against Swifty Industries' account. Deposit in transit on February 28-$1,476
8 (a) Deposit in transit on February 28-$1,476 Prepare a bank reconciliation in proper format. (List items that increase balance as per bank & books first.) SwiftyIndustries Bank Reconciliation February 28 A Q Mi
Transcribed Image Text:8 (a) Deposit in transit on February 28-$1,476 Prepare a bank reconciliation in proper format. (List items that increase balance as per bank & books first.) SwiftyIndustries Bank Reconciliation February 28 A Q Mi
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