View the step-by-step solution to:


Teng Corporation received a bank statement showing a balance of $14,950 as of October 31, 2019. The firm's records

showed a book balance of $14,467 on October 31. The difference between the two balances was caused by the following items.


  1. A debit memorandum for an NSF check from Richard Wolf for $429.
  2. Three outstanding checks: Check 7017 for $129, Check 7098 for $60, and Check 7107 for $1,610.
  3. A bank service charge of $25.
  4. A deposit in transit of $862.

Prepare the adjusted bank balance section and the adjusted book balance section of the bank reconciliation statement. Prepare the necessary journal entries for the year 2019.

Top Answer

The adjusted bank balance section and the adjusted book balance... View the full answer

Bank reconciliaion cal..PNG

Sign up to 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.

  • -

    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