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Unformatted text preview: 1. INTERACTIVE SYSTEMS Bank Reconciliation February 28, 2010 Cash balance according to bank statement $13,333 Add: Deposit of February 28, not recorded by bank 4,500 $17,833 Deduct: Outstanding checks $4,118 Bank error in charging check as $145 instead of $415 270 4,388 Adjusted balance $13,445 Cash balance according to company's records $7,635 Add: Proceeds of note col ected by bank, including $200 interest $5,200 Error in recording check 630 5,830 $13,465 Deduct: Bank service charges 20 Adjusted balance $13,445 2. Assets = Liabilities + Stockholders' Equity Notes Accounts Retained Cash + Receivable = Payable + Earnings a. Effects of additions to cash balance: $5,830 $(5,000) $630 $200 b. Effects of subtractions from cash balance: (20) (20) Instructions...
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This note was uploaded on 11/04/2011 for the course ACC 121 taught by Professor Thomas during the Winter '08 term at Baker MI.
- Winter '08