Using the following information, prepare the bank reconciliation for Marks Corp for October 30, 2020. Be sure to exclude items that do not belong on a bank reconciliation. a. The unadjusted balance of cash in the general ledger was a debit balance of $3,000. b. The ending balance of cash per the bank statement was $3,500. c. Outstanding checks are $925. d. Bank service charge on the bank statement was $30. e. Ending balance of notes receivable in the general ledger is $500. f. Interest earned on the bank statement was $5. g. Deposits in transit are $400.
Using the following information, prepare the bank reconciliation for Marks Corp for October 30, 2020. Be sure to exclude items that do not belong on a bank reconciliation. a. The unadjusted balance of cash in the general ledger was a debit balance of $3,000. b. The ending balance of cash per the bank statement was $3,500. c. Outstanding checks are $925. d. Bank service charge on the bank statement was $30. e. Ending balance of notes receivable in the general ledger is $500. f. Interest earned on the bank statement was $5. g. Deposits in transit are $400.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5DQ
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Using the following information, prepare the bank reconciliation for Marks Corp for October 30, 2020.
Be sure to exclude items that do not belong on a bank reconciliation.
a. The unadjusted balance of cash in the general ledger was a debit balance of $3,000.
b. The ending balance of cash per the bank statement was $3,500.
c. Outstanding checks are $925.
d. Bank service charge on the bank statement was $30.
e. Ending balance of notes receivable in the general ledger is $500.
f. Interest earned on the bank statement was $5.
g. Deposits in transit are $400.
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