The Following Data Were Gathered to Use in Reconciling the Bank

question 106

Essay

The following data were gathered to use in reconciling the bank statement of Build-A-Lot:
$\begin{array}{|l|r|}\hline \text { Balance per bank } & \$ 14,355 \\\hline \text { Balance per company records } & 14,010 \\\hline \text { Bank service charges } & 80 \\\hline \text { Deposits in transit } & 4,100 \\\hline \text { NSF checks } & 775 \\\hline \text { Outstanding checks } & 5,300\\\hline\end{array}$
1. What is the adjusted balance on the bank reconciliation?
2. Journalize any necessary entries for Build-A-Lot based on the bank reconciliation.

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Definitions:

Rite of Passage

A ceremony or ritual signifying an event in an individual's life indicative of a transition from one stage to another, such as from adolescence to adulthood.

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Social Order

The organized and patterned relationships among individuals and groups within a society, governed by laws, norms, and cultural expectations.

Catholic Church

The Catholic Church is a global religious institution that follows the teachings of Jesus Christ, grounded in the tradition of Roman Catholicism and led by the Pope in Vatican City.