Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(b) Prepare a tabular analysis for the necessary adjustments at July 31. Include margin explanations for the changes in revenues and expenses. (If a transaction

image text in transcribedimage text in transcribed

(b) Prepare a tabular analysis for the necessary adjustments at July 31. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities + Accts. Rec. Accts. Pay. Cash + + Rev. July 31 31 31 31 Bank Reconciliation July 31, 2022 Cash balance per bank statement 7,810.8 Add Deposits in transit 1,319.3 9,130.1 Less Outstanding checks 1,989.1 i Adjusted cash balance per bank $ 7,141 Cash balance per books $ 6,260 Add Electronic funds transfer received 1,640 7.900 Less 4 Bank service charge . 19 NSF check 695 Error in recording check No. 2480 45 i 759 i Adjusted cash balance per books $ 7,141

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Investments Fixed Income Securities And Interest Rate Derivatives Volume 2

Authors: R. Venkata Subramani

1st Edition

047082591X, 978-0470825914

More Books

Students also viewed these Accounting questions

Question

Should job descriptions be abandoned in recruitment and selection?

Answered: 1 week ago