The Following Information Is Needed to Reconcile the Cash Balance

question 23

Essay

The following information is needed to reconcile the cash balance for Fire Steel Inc.
• A deposit of $5,800 is in transit.
• Outstanding checks total $1,500.
• The book balance is $6,800 at February 28, 2013.
• The bookkeeper recorded a $1,740 check as $17,400 in payment of the current month's rent.
• The bank balance at February 28, 2013 was $18,000.
• A deposit of $400 was credited by the bank for $4,000.
• A customer's check for $3,700 was returned for nonsufficient funds.
• The bank service charge is $60.
Based on this information, prepare a bank reconciliation for Fire Steel Inc. as of February 28, 2013.

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Definitions:

Conscientiousness

Conscientiousness is a personality trait characterized by organization, dependability, and a strong sense of duty.

Openness

A personality trait characterized by a willingness to try new experiences, be creative, and think imaginatively.

Extraversion

A personality trait characterized by sociability, talkativeness, assertiveness, and high levels of emotional expressiveness.

Neuroticism

One of the five major personality traits, characterized by anxiety, moodiness, worry, envy, and jealousy.