Calculate the correct ending balance of cash on august

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Reference no: EM132689083

On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,924. Cash receipts yet to be deposited into the checking account total $3,318, and checks written by the academy but not yet processed by the bank total $1,405. The company's balance of cash does not reflect a bank service fee of $33 and interest earned on the checking account of $44. These amounts are included in the balance of cash of $6,022 reported by the bank as of the end of August.

Required:

Problem 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2021

Reference no: EM132689083

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