Respuesta :
Answer and Explanation:
The Preparation of bank reconciliation for Cougar Corp. as of December 31 is shown below:-
                     Cougar Corp.
                  Bank reconciliation
             For the year ended December 31
Particulars                         Amount
Bank balance Dec 31 Â Â Â Â Â Â Â Â Â Â Â Â Â Â $24,575
Add: Deposit in transit               $2,500
Less:
Outstanding checks #302 Â Â Â Â Â ($180)
Outstanding checks #303 Â Â Â Â Â ($95)
Outstanding checks #304 Â Â Â Â Â ($25) Â Â ($300)
Bank balance adjusted               $26,775
Cash balance on 31 Dec               $26,504
Add: EFT from customer       $1,700
Add: Interest income          $21       $1,721
Less: Posting error
($5,400 - $4,500) Â Â Â Â Â Â Â Â Â Â Â Â $900
Less: NSF check               $500   $1,400
Book balance adjusted                $26,775
Hence, the bank balance and the book balance are matched