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In this exercise, you will prepare a bank reconciliation for the month of September for Stepping Stone Corp. Use the following information to complete the bank reconciliation: • The ending balance displayed on the bank statement was $8,200. • The general ledger shows an ending cash balance of $9,450. • Outstanding checks as of September 30 were as follows: Check #547 - $95 Check #624 - $180 Check #627 - $230 • Adeposit of $2,000 made by Stepping Stone Corp. on September 24 was erroneously recorded by the bank as a deposit of only $200. · Adeposited check for $875 from TreeCo. was rejected by the bank as an NSF check. • Deposits in transit as of September 30 totaled $350. A notes receivable of $1,400 owed by WRM Inc. was collected on behalf of Stepping Stone Corp. by the bank.

In this exercise, you will prepare a bank reconciliation for the month of September for Stepping Stone Corp. Use the following information to complete the bank reconciliation: • The ending balance displayed on the bank statement was $8,200. • The general ledger shows an ending cash balance of $9,450. • Outstanding checks as of September 30 were as follows: Check #547 - $95 Check #624 - $180 Check #627 - $230 • Adeposit of $2,000 made by Stepping Stone Corp. on September 24 was erroneously recorded by the bank as a deposit of only $200. · Adeposited check for $875 from TreeCo. was rejected by the bank as an NSF check. • Deposits in transit as of September 30 totaled $350. A notes receivable of $1,400 owed by WRM Inc. was collected on behalf of Stepping Stone Corp. by the bank.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...
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In this exercise, you will prepare a bank reconciliation for the month of September for Stepping Stone Corp. Use the following information to complete the bank reconciliation: • The ending balance displayed on the bank statement was $8,200. • The general ledger shows an ending cash balance of $9,450. • Outstanding checks as of September 30 were as follows: Check #547 - $95 Check #624 - $180 Check #627 - $230 · A deposit of $2,000 made by Stepping Stone Corp. on September 24 was erroneously recorded by the bank as a deposit of only $200. · A deposited check for $875 from TreeCo. was rejected by the bank as an NSF check. • Deposits in transit as of September 30 totaled $350. • A notes receivable of $1,400 owed by WRM Inc. was collected on behalf of Stepping Stone Corp. by the bank. Bank charges of $130 were levied during the month.
Transcribed Image Text:In this exercise, you will prepare a bank reconciliation for the month of September for Stepping Stone Corp. Use the following information to complete the bank reconciliation: • The ending balance displayed on the bank statement was $8,200. • The general ledger shows an ending cash balance of $9,450. • Outstanding checks as of September 30 were as follows: Check #547 - $95 Check #624 - $180 Check #627 - $230 · A deposit of $2,000 made by Stepping Stone Corp. on September 24 was erroneously recorded by the bank as a deposit of only $200. · A deposited check for $875 from TreeCo. was rejected by the bank as an NSF check. • Deposits in transit as of September 30 totaled $350. • A notes receivable of $1,400 owed by WRM Inc. was collected on behalf of Stepping Stone Corp. by the bank. Bank charges of $130 were levied during the month.
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