Answer:
Adjusted bank account balance = Adjusted cash book balance = $34,500
Explanation:
Note: The correct requirement of this question is actually as follows:
Prepare a bank reconciliation.
It is not the ones erroneously stated in the question.
The bank reconciliation can now be prepared as follows:
Wolfpack Bread Inc.
Bank Reconciliation
August 31, 20Y9
Statement of Adjusted Bank Account Balance
<u>Details Amount ($) </u>
Cash balance according to bank statement 33,580
Add:
Deposit in transit, not recorded by bank 14,260
Less:
Checks outstanding <u> (13,340) </u>
Adjusted bank account balance <u> 34,500 </u>
Statement of Adjusted Cash Book Balance
<u>Details Amount ($) </u>
Cash balance according to Wolfpack 34,437
Add:
Check error ($762 - $276) 486
Less:
Bank service charges (144)
Other reconciling items (w.1) <u> (279) </u>
Adjusted cash book balance <u> 34,500 </u>
<u>Working:</u>
w.1: Other reconciling items = Cash balance according to Wolfpack + Check error ($762 - $276) - Bank service charges - Adjusted bank account balance = $34,437 + 486 - 144 - $34,500 = $279
