The banck statement for the checking accout of management systems, Inc. (MSI) showed a December
31, 2000, balance of $14,623.12. Informa&on that might be useful in preparing a bank reconcilia&on as
as follows:
a. Outstanding checks were $1,320.25
b. The December 31, 2000, cash receipts of $246 was correctly recorded by the bank but was
recorded by MSE as a $264 disbursement
c. In accordance with prior authoriza&on, tha bank withdrew $450 directly from checing account as
payment on a mortage note payable. The interest por&on of that payment was $350. MASI has
mad no entry to record the automa&c payment.
d. Bank service charges of $14 were listed on the bank statement.
