Using the following information, prepare a bank reconciliation for Hintz Company for July 31, 2022. a. The bank statement balance is $3,506. b. The cash account balance is $3,930. c. Outstanding checks totaled $1,285. d. Deposits in transit are $1,670. e. The bank service charge is $30. f. A check for $98 for supplies was recorded as $89 in the ledger.

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Business

Natasha Warren

5 January, 22:37

Using the following information, prepare a bank reconciliation for Hintz Company for July 31, 2022. a. The bank statement balance is $3,506. b. The cash account balance is $3,930. c. Outstanding checks totaled $1,285. d. Deposits in transit are $1,670. e. The bank service charge is $30. f. A check for $98 for supplies was recorded as $89 in the ledger.

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Terry Irwin · Answer 1

The preparation of the bank reconciliation for Hintz Company for July 31, 2022 is shown below:

Bank statement balance $3,506

Add: Deposits in transit $1,670

Less: Outstanding checks ($1,285)

Adjusted bank balance $3,891

Cash account balance $3,930

Less - supplies error ($9) ($98 - $89)

Less - bank service charge ($30)

Adjusted cash balance $3,891