Home / Expert Answers / Accounting / problem-6-18a-algo-preparing-a-bank-reconciliation-lo-6-3-rick-hall-owns-a-card-shop-halls-car-pa226

(Solved): Problem 6-18A (Algo) Preparing a bank reconciliation LO 6-3 Rick Hall owns a card shop, Halls Car ...



Problem 6-18A (Algo) Preparing a bank reconciliation LO 6-3 Rick Hall owns a card shop, Hall’s Cards. The following cash information is available for the month of August Year 1: As of August 31, the bank statement shows a balance of $11,395. The August 31 unadjusted balance in the Cash account of Hall’s Cards is $7,388. A review of the bank statement revealed the following information: A deposit of $1,520 on August 31, Year 1, does not appear on the August bank statement. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $2,420 but was recorded on the books as $3,320. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,650 were found to be outstanding. A debit memo for $23 was included in the bank statement for the purchase of a new supply of checks. Required: Prepare a bank reconciliation at the end of August showing the true cash balance. Note: Negative amounts should be indicated with minus sign.


We have an Answer from Expert

View Expert Answer

Expert Answer



Sure, let's break down the bank reconciliation process into steps: Step 1: Start with the Bank Stat...
We have an Answer from Expert

Buy This Answer $5

Place Order

We Provide Services Across The Globe