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The Cash account of Guard Dog Security Systems reported a balance of $2,540 at December 31​,...

The Cash account of Guard Dog Security Systems reported a balance of $2,540 at December 31​, 2024. There were outstanding checks totaling $400 and a December 31 deposit in transit o f$100. The bank​ statement, which came from Park Cities​ Bank, listed the December 31 balance of $3,340. Included in the bank balance was a collection of $510 on account from Brendan Ballou​, a Guard Dog customer who pays the bank directly. The bank statement also shows a $30 service charge and $20 of interest revenue that Guard Dog earned on its bank balance. Prepare Guard Dog​'s bank reconciliation at December 31.

Guard Dog Security Systems

Bank Reconciliation

December 31, 2024

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Expert Solution

Bank Reconciliation Statement
December 31.2024
Bank Balance as per Cash book                   2,540
Add: Cheque issued but not presented in Bank                       400
Less: Deposit in Transit                     (100)
Add: Collection from Customer Directly                       510
Less: Service charge expense                       (30)
Add: Interest Income                         20
Bank Statement Balance                   3,340

ekkarill92 answered 2 years ago
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