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.
- Deposits in transit totaled $1,500
- The bank staement shows a debit memorandum for $28 for service charges.
- Outstanding checks totaled $591
- 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
Commander Company Bank Reconciliation March 31 Cash Balance per Bank Statement 7263.00 Add: Deposits in Transit 1500.00... View the full answer
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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
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