Business, 15.07.2020 01:01 kealalac1

Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: Cash balance according to the company's records at July 31 $27,210. Cash balance according to the bank statement at July 31, $28,320. Checks outstanding, $5,520. Deposit in transit, not recorded by bank, $4,440. A check for $340 in payment of an account was erroneously recorded in the check register as $430. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 14. Mathers Co. Bank Reconciliation July 31 Cash balance according to bank statement $ Adjusted balance $ Cash balance according to company's records $ Adjusted balance $ b. If the balance sheet is prepared for Mathers Co. on July 31, what amount should be reported for cash? $ c. Must a bank reconciliation always balance (reconcile)?

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Bank Reconciliation The following data were accumulated for use in reconciling the bank account of M...

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