Answer:
Explanation:
Oscars Red Carpet Store
Bank reconciliation Statement
Balance as Per Bank Statement $11,770
<u />
<u>Add back Un-credited checks/deposits</u>
Cash receipts for 26 - 28 Feb $1,500
NSF check $450
Total $1,950
<u />
<u>deduct uncleared check</u>
#325 $450
#327 $1,800
Total $2,250
<u />
<u>Add withdrawals in Bank not in cash ledger</u>
#323 - understated value in cash ledger ($2,800 - $2,400) $400
Automatic withdrawal - rent $1,300
Service Fee (Academy Bank) $120
Total $1,820
<u>Deduct items in Bank not in Cash ledger</u>
Interest earned $190
Titanic Fabrics repayment $5,950
Total $6,140
Adjusted Bank Balance (in line with Cash balance) $7,150
