The Following Information Is Needed to Reconcile the Cash Balance

question 75

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 checks total $1,533.25.
• The book balance is $5,695.62.
• The bookkeeper recorded a $1,524.00 check 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 check 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 February 28, 2013.

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Definitions:

Culture

The shared beliefs, customs, practices, and social behavior of a particular nation or people.

Traditions

Customs or beliefs handed down from generation to generation, often forming a part of a community's culture.

Broader Culture

Refers to the wider set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group larger than a single community.

New Cultural Studies

A field of study focused on understanding contemporary cultures through various lenses, including media, technology, and identity.