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yanalaym [24]
2 years ago
10

On October 31, 2018, your company's records say that the company has $20,419.93 in its checking account. A review of the bank st

atement shows you have three outstanding checks totaling $8,912.25, and the bank has paid you interest of $27.14 and charged you $22.00 in service charges. The bank statement dated October 31, 2018 would report a balance of: (Round your answer to 2 decimal places.)
Business
1 answer:
puteri [66]2 years ago
3 0

Answer: $29337.32

Explanation:

The following can be reduced from the question:

Balance as per company's ledger = $20,419.93

Add the outstanding checks= $8912.25

Add interest = $27.14

Less the fee charged by the bank = $22.00

The bank statement dated October 31, 2018 would report a balance of:

=($20,419.93 + $8912.25 + $27.14) - $22.00

= $29337.32

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3 years ago
Bank Reconciliation
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Cash balance according to the bank $23,557.98

+ deposits in transit $12,125.25

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- outstanding check N⁰ 125 ($42)

- outstanding check N⁰ 129 ($1,250)

adjusted bank balance = $34,329.23

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+ note collected by bank $15,250.75

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adjusted cash account balance = $34,122.23 + ($250 - $25) = $34,347.23

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