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Using the following information, prepare a bank reconciliation for Blossom Company for July 31, 2022.
a. The bank statement balance is $3,510.
b. The cash account balance is $4,050.
c. Outstanding checks totaled $1,240.
d. Deposits in transit are $1,690.
e. The bank service charge is $81.
f. A check for $76 for supplies was recorded as $67 in the ledger.

Respuesta :

Answer and Explanation:

The preparation of the bank reconciliation statement is shown below:

Cash balance as per bank            $3,510

Add: Deposits in transit                $1,690

Less: Outstanding checks            -$1240

Adjusted bank balance                 $3,960

Cash balance as per books          $4,050

Less: Bank service charge           -$81  

Less:  Check for supplies error     -$9 ($76 - $67)

Adjusted cash balance                  $3,960

Therefore both the balances are matched

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