1.The actual cash received from cash sales was $11279 and the amount indicated by the cash register total was $11256.
a. What is the amount deposited in the bank for the day%u2019s sales?
b. What is amount recorded for the day%u2019s sales?
c. How should the difference be recorded? d. If a cashier is consistently over or short what action should be taken?
2.The following data were accumulated for use in reconciling the bank account of Commander Co. for March:
a. Cash balance according to the company%u2019s records at March 31 $13065.
b. Cash balance according to the bank statement at March 31 $12750.
c. Checks outstanding $4170. d. Deposit in transit not recorded by bank $5100. e. A check for $180 in payment of an account was erroneously recorded in
the check register as $810. f. Bank debit memo for service charges $15.
Prepare a bank reconciliation using the format shown in Exhibit 7.