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Business, 08.04.2021 17:10 libi052207

An accounting clerk for Westwind Co. prepared the following bank reconciliation: WESTWIND CO. Bank Reconciliation August 31, 20Y6
Cash balance according to company's records $6,440
Add: Outstanding checks $3,090
Error by Westwind Co. in recording Check No. 01-115 as $940 instead of $490 450
Note for $10,100 collected by bank, including interest 10,500 14,040
20,480
Deduct: Deposit in transit on August 31 6,560 Bank service charges 50 6,610
Cash balance according to bank statement 13,870

Required:
a. From the bank reconciliation data, prepare a new bank reconciliation for Westwind Co.
b. If a balance sheet were prepared for Westwind Co. on August 31, 20Y6, what amount should be reported for cash?

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Answers: 2

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An accounting clerk for Westwind Co. prepared the following bank reconciliation: WESTWIND CO. Bank...
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