The Following Information Is Available for the Tierney Company for the Month

question 29

Essay

The following information is available for the Tierney Company for the month of November.
On November 30,after all transactions have been recorded,the balance in the company's Cash account has a balance of $27,202.
The company's bank statement shows a balance on November 30 of $29,279.
Outstanding checks at November 30 include check #3030 in the amount of $1,525 and check #3556 in the amount of $1,459.
Included with the bank statement was a credit memo in the amount of $770 for an EFT in payment of a customer's account.
The bank deducted $67 for an NSF check from a customer deposited on November 22.
A deposit placed in the bank's night depository on November 30 totaled $1,675 and did not appear on the bank statement.
Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,450,but was recorded in the accounting records as $2,540.
Included with the bank statement was a debit memorandum in the amount of $25 for bank service charges.
Required:
Prepare a bank reconciliation for Tierney Company as of November 30.

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Definitions:

Assertiveness

The quality of being self-assured and confident without being aggressive, in a way that respects both one's own rights and the rights of others.

Cooperation

The process of working together towards a common goal or benefit.

Problem Definition

Problem Definition refers to the process of clearly identifying, describing, and understanding a problem or challenge, forming the critical first step in the problem-solving process.

Conflict Resolution

The process of identifying and addressing differences between parties to reach an amicable agreement or solution.