Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 7 - Fraud, Internal Control, and Cash - Brief Exercises - Page 373: BE7-8

Answer

a)Bank Reconciliation Balance as per bank statement Add: Deposit in Transit Less: Outstanding checks b)Balance as per books Add: Collection of Note Less: Bank Service Charges

Work Step by Step

a)Adjusted cash balance as per bank b)Adjusted cash balance as per books
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