The Following Information Is Needed to Reconcile the Cash Balance

question 10

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 28 February 2013 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 nonsufficient 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 28 February 2013.

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Definitions:

Neurotransmitters

Chemicals that transmit signals across a synapse from one neuron to another in the brain.

Appetite Suppression

The decrease in the desire to eat, potentially due to psychological factors, physiological mechanisms, or external substances.

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring, a key mechanism of evolution described by Charles Darwin.

Evolution

The process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.