Angela Lansbury Company deposits all receipts and makes all payments by check. The following information is available
Question:
Angela Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.
Instructions
(a) Prepare a bank reconciliation going from balance per bank and balance per books to correct cash balance.
(b) Prepare the general journal entry or entries to correct the Cashaccount.
Transcribed Image Text:
June 30 Bank Reconciliation Balance per bank Add: Deposits in transit Deduct: Outstanding checks Balance per books $7,000 1,540 (2,000) $6,540 Month of July Results Balance July 31 July deposits July checks July note collected (not included in July deposits) July bank service charge July NSF check from a customer, returned by the bank Per Bank $8,650 5,000 4,000 1,000 15 335 Per Books $9,250 5,810 3,100 (recorded by bank as a charge)
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a Angela Lansbury Company Bank Reconciliation July 31 Balance per bank statement July 31 8650 A...View the full answer
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Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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