Reconciliation Form

Question 1

The July bank statement for A & H Iron Works shows a balance of $37.94 and a service charge of $8.00. The account register shows deposits of $650 and $375.56 that do not appear on the statement. Checks in the amounts of $217.45, $57.82, $17.45, and $58.62 are outstanding. The register before reconciliation is $720.16. Reconcile the bank statement with the account register using the form in figure 4-48.

$BALANCE AS SHOWN ON BANK STATEMENTBALANCE AS SHOWN IN YOUR REGISTER$
$TOTAL OF OUTSTANDING DEPOSITSSUBTRACT AMOUNT OF SERVICE CHARGE
$NEW TOTALNEW TOTAL$
-$SUBTRACT TOTAL OF OUTSTANDING CHECKSADJUSTMENTS IF ANY$
$YOUR ADJUSTED STATEMENT BALANCESHOULD <———-> EQUALYOUR ADJUSTED REGISTER BALANCE$
Outstanding Deposits (Credits)$Outstanding Checks (Debits)$
DateAmountCheck NumberDateAmount
$$
Total$$
FIGURE 4-48
Account Reconciliation Form

Question 2

Identify and explain contemporaneous data issues that occur with the precedent transaction analysis. Keep that answer limited to one page.

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