View the step-by-step solution to:

Bank reconciliation >so, Commander Company bank statement for the month of March showed a balance per bank of $7,284.

Bank reconciliation >so, Commander Company bank statement for the month of March showed a balance per bank of $7,284. The company's CASH ACCOUNT in the general ledger had a balance of 7,284 at march 31.

  1. Deposits in transit totaled $1,500
  2. The bank staement shows a debit memorandum for $28 for service charges.
  3. Outstanding checks totaled $591
  4. The bank included a credit memorandum for $916 which represents collection of a customer's note by the bank for the company;principal amount of the note was $900, interest was $36, and less fee of $20. Intrest has not been accrued


Show a bank reconciliation for Commander Company at March 31. Show the adjusting entries needed to balance the company's cash account to the bank's balance.

a. Balance per bank $7,263 b Balance per Company $7,284

Top Answer

Commander Company Bank Reconciliation March 31 Cash Balance per Bank Statement 7263.00 Add: Deposits in Transit 1500.00... View the full answer

Sign up to view the full answer

Other Answers

I can guide you through steps First take Bank balance as per the bank 7263 Then Add:deposit in transit 1500 Then Deduct:... View the full answer

Hi, The answer is attached.... View the full answer

Bank Reconcilation.JPG

Commander Company Bank Reconciliation As on March 31 Opening : Balance As per Company's bank Statement $7284 Add :... View the full answer

Start with statement balance of $7,263. Add deposits in transit of $1,500. Add $28 for service charges. Subtract... View the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online