The Oct 31 bank statement for Malone Ltd had an ending balance of $4,250.12. The cash account according to the company's records was $3,433.52 as at the same date. The following additional data was available
1. The company had made a deposit in the night box of $1,200.00 on Oct 31 after the branch was closed.
2. There were outstanding cheques totalling $2,718.60 as at Oct 31.
3. The bank service fee was $40.00 for the month.
4. A cheque in the amount of $650.00 deposited by Malone on May 21 had been returned NSF and the bank charged a $12.00 fee on the item. Malone had not known about the returned item until it received the bank statement.
Instructions
Prepare the bank reconciliation for Malone Ltd. for the month of Oct.

Question

Quizplus · Accepted Answer

The Answer of The Oct 31 bank statement for Malone Ltd had an ending balance of $4,250.12. The cash account according to the company's records was $3,433.52 as at the same date. The following additional data was available
1. The company had made a deposit in the night box of $1,200.00 on Oct 31 after the branch was closed.
2. There were outstanding cheques totalling $2,718.60 as at Oct 31.
3. The bank service fee was $40.00 for the month.
4. A cheque in the amount of $650.00 deposited by Malone on May 21 had been returned NSF and the bank charged a $12.00 fee on the item. Malone had not known about the returned item until it received the bank statement.
Instructions
Prepare the bank reconciliation for Malone Ltd. for the month of Oct.

The Oct 31 Bank Statement for Malone Ltd Had an Ending