The Following Information Is Needed to Reconcile the Cash Balance $\$ 5,800$

question 78

Essay

The following information is needed to reconcile the cash balance for Natural Landscaping Services.
*A deposit of $\$ 5,800$ is in transit.
*Outstanding checks total $\$ 1,500$ .
*The book balance is $\$ 6,800$ at February 28,2019 .
*The bookkeeper recorded a $\$ 1,740$ check as $\$ 17,400$ in payment of the current month's rent The bank balance at February 28, 2019 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 Natural Landscaping Services as of February 28,2019.

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Definitions:

Concurrence

Agreement in opinion or outcome among individuals or groups.

Groupthink

is a psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Vroom's Normative Model

A psychological theory that describes the ways leaders can decide to engage their team in decision-making processes, based on the situation's complexity and the importance of team agreement.

Shared Information Bias

A tendency in group discussions to focus on information that all members already know, neglecting unique and potentially important information.