The following data were gathered to use in reconciling the bank statement of Build-A-Lot: $$\begin{array} { | l | r | }
\hline \text { Balance per bank } & \$ 14,355 \
\hline \text { Balance per company records } & 14,010 \
\hline \text { Bank service charges } & 80 \
\hline \text { Deposits in transit } & 4,100 \
\hline \text { NSF checks } & 775 \
\hline \text { Outstanding checks } & 5,300 \
\hline
\end{array}$$ Required
(1) What is the adjusted balance on the bank reconciliation?
(2) Journalize any necessary entries for Build-A-Lot based on the bank reconciliation.

Question

The following data were gathered to use in reconciling the bank statement of Build-A-Lot:​ $$\begin{array} { | l | r | } 
\hline \text { Balance per bank } & \$ 14,355 \
\hline \text { Balance per company records } & 14,010 \
\hline \text { Bank service charges } & 80 \
\hline \text { Deposits in transit } & 4,100 \
\hline \text { NSF checks } & 775 \
\hline \text { Outstanding checks } & 5,300 \
\hline
\end{array}$$ Required
(1) What is the adjusted balance on the bank reconciliation?
(2) Journalize any necessary entries for Build-A-Lot based on the bank reconciliation.

Quizplus · Accepted Answer

The Answer of The following data were gathered to use in reconciling the bank statement of Build-A-Lot:​ $$\begin{array} { | l | r | } 
\hline \text { Balance per bank } & \$ 14,355 \
\hline \text { Balance per company records } & 14,010 \
\hline \text { Bank service charges } & 80 \
\hline \text { Deposits in transit } & 4,100 \
\hline \text { NSF checks } & 775 \
\hline \text { Outstanding checks } & 5,300 \
\hline
\end{array}$$ Required
(1) What is the adjusted balance on the bank reconciliation?
(2) Journalize any necessary entries for Build-A-Lot based on the bank reconciliation.

The Following Data Were Gathered to Use in Reconciling the Bank