CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 5 Incomple

CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 5 Incomplete answer Points out of 20.00 Flag question Bank Reconciliation The bank reconcililation made by Sandler Company, a sole proprietorship, on March 31 showed Deposit in transit of Outstanding checks $1,320 no.797 $540 no.804 $1,068 $14,064 The reconciled cash balance on March 31 was The following bank statement is available for April 2012.

Solution

Solution a:

Solution b:

SANDLER COMPANY
Bank Reconciliation Statement
April, 30
Ending Balance from Bank Statement	$17,467.00	Balance in General Journal	$16,644.00
Add: Deposits not credited by bank	$1,710.00	Add: Interest earned	$72.00
Less: Outstanding checks:		Less: NSF Check R. Coppa	$600.00
Check 797	$540.00	Less: Service Charges	$48.00
Check 812	$1,138.00	Less Error in recording:
Check 815	$446.00	Check no. 811 ($391-326)	$65.00
Check 816	$1,050.00
Adjusted Balance	$16,003.00	Adjusted Balance	$16,003.00