The Following Information Is Needed to Reconcile the Cash Balance

question 85

Essay

The following information is needed to reconcile the cash balance for Woods Paper Products.
• A deposit of $5,794.62 is in transit.
• Outstanding cheques total $1,533.25.
• The book balance is $5,695.62.
• The bookkeeper recorded a $1,524.00 cheque as $15,240 in payment of the current month's rent.
• The bank balance at February 28, 2008 was $16,500.25.
• A deposit of $300 was credited by the bank for $3,000.
• A customer's cheque for $1,280 was returned for non-sufficient funds.
• The bank service charge is $70.
Based on this information, complete a bank reconciliation, in the format below, for Woods Paper Products as of February 28, 2017. $\begin{array}{l|lcc} \text { BANK\quad\quad\quad\quad\quad\quad\quad\quad} &\quad\quad\quad\quad\quad\quad\quad \text { BOОК} \\ \hline \text { } &\\ \text { } &\\ \text { } &\\ \text { } &\\ \text { } &\\ \text { } &\\\end{array}$

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Definitions:

Theory of Mind

Theory of Mind is the ability to attribute thoughts, desires, and intentions to oneself and others, understanding that others have beliefs and perspectives different from one's own.

Subconscious Awareness

The part of the mind that is not currently in focal awareness yet influences thoughts, feelings, and actions.

Higher-Level Consciousness

This is a state of awareness that involves focused attention and control over mental processes.

Lower-Level Consciousness

A state of minimal awareness and attention, such as that experienced during drowsiness or light sleep.