Dinah Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement for June 2019 indicated the following: The correct amount of check # 3549 is $760, but it was recorded as a cash disbursement of $670. The check was issued to pay for merchandise purchased. The check was written correctly and appeared on the bank statement correctly.
A)Prepare a bank reconciliation in proper form for June 30, 2019.
B)What amount should be reported as the cash balance on the June 30, 2019 balance sheet?

Question

Dinah Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement for June 2019 indicated the following:

The correct amount of check # 3549 is $760, but it was recorded as a cash disbursement of $670. The check was issued to pay for merchandise purchased. The check was written correctly and appeared on the bank statement correctly.
A)Prepare a bank reconciliation in proper form for June 30, 2019.
B)What amount should be reported as the cash balance on the June 30, 2019 balance sheet?

Quizplus · Accepted Answer

The Answer of Dinah Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement for June 2019 indicated the following:  The correct amount of check # 3549 is $760, but it was recorded as a cash disbursement of $670. The check was issued to pay for merchandise purchased. The check was written correctly and appeared on the bank statement correctly.