Use the following information to answer questions :
While preparing the October 2010 bank reconciliation, Flores Inc.'s accountant identified the following items:

-What is the net effect of the reconciling items on the general ledger cash account balance?

Question

Use the following information to answer questions :
While preparing the October 2010 bank reconciliation, Flores Inc.'s accountant identified the following items:
 
-What is the net effect of the reconciling items on the general ledger cash account balance?

Quizplus · Accepted Answer

The net effect of the reconciling items on the general ledger cash account balance is $(456.50). This is because the total of the reconciling items that increase the balance is $343.50, and the total of the reconciling items that decrease the balance is $800.00. Therefore, the net effect is a decrease of $456.50.

Use the Following Information to Answer Questions