Question

Exercise 7-9 (part level submission) don wyatt is unable to reconcile the bank balance at january 31. don's reconciliation is as follows. cash balance per bank $3,560.20 add: nsf check 490 less: bank service charge 25 adjusted balance per bank $4,025.20 cash balance per books $3,875.20 less: deposits in transit 530 add: outstanding checks 730 adjusted balance per books $4,075.20 collapse question part (a) prepare a correct bank reconciliation. (list items that increase cash balance first. round answers to 2 decimal places,
e.g. 52.75.) don wyatt bank reconciliation january 31 $ : : $ $ : $ $

Answer 1

Given: 
cash balance per bank $3,560.20
nsf check 490
bank service charge 25

cash balance per books $3,875.20
deposits in transit 530
outstanding checks 730 

My bank reconciliation:
Cash balance per bank:       3,560.20
Add: deposit in transit             530.00
deduct: outstanding checks    730.00
Adjusted Cash balance:        3,360.20

Cash balance per book:       3,875.20
Deduct: NSF check                 490.00
Deduct: bank service charge     25.00
Adjusted Cash balance         3,360.20