Required
1. What events might have caused each of the preceding reconciling items to occur?
2. Compute the amount that would have appeared as the balance per bank statement on a bank reconciliation if the adjustments cash balance in the accounting records was $7683.70, outstanding checks were $207.50, and no other adjustments were required.
3. Assume that you contact the bank and are informed that a balance of $5542.90 had been reported on the June 30 bank statement. What does this discrepancy indicate and how would you begin investigation it?