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Bank Reconciliation and Entries The cash account for Stone Systems at July 3 1 , 2 0 Y 5 , indicated a balance of $
Bank Reconciliation and Entries The cash account for Stone Systems at July indicated a balance of $ The bank statement indicated a balance of $ on July Y Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: a Checks outstanding totaled $ b A deposit of $ representing receipts of July had been made too late to appear on the bank statement. c The bank had collected $ on a note left for collection. The face of the note was $ d A check for $ returned with the statement had been incorrectly recorded by Stone Systems as $ The check was for the payment of an obligatio to Holland Co for the purchase of office supplies on account. e A check drawn for $ had been incorrectlycharged by the bank as $ f Bank service charges for July amounted to $ Required: Prepare a bank reconciliation. Stone Systems Bank Reconciliation July Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance Cash balance according to company's records Adjusted balance Cash balance according to company's records Adjustments: Total adjustments Adjusted balance Journalize the necessary entries a that increase cash and b that decrease cash. The accounts have not been closed. For a compound entry, if an amount box does not require an entry, leave it blank. July July If a balance sheet were prepared for Stone Systems on July what amount should be reported as cash? $
Bank Reconciliation and Entries
The cash account for Stone Systems at July indicated a balance of $ The bank statement indicated a balance of $ on July Y Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items:
a Checks outstanding totaled $
b A deposit of $ representing receipts of July had been made too late to appear on the bank statement.
c The bank had collected $ on a note left for collection. The face of the note was $
d A check for $ returned with the statement had been incorrectly recorded by Stone Systems as $ The check was for the payment of an obligatio to Holland Co for the purchase of office supplies on account.
e A check drawn for $ had been incorrectlycharged by the bank as $
f Bank service charges for July amounted to $
Required:
Prepare a bank reconciliation.
Stone Systems
Bank Reconciliation July
Cash balance according to bank statement
Adjustments:
Total adjustments
Adjusted balance
Cash balance according to company's records
Adjusted balance
Cash balance according to company's records
Adjustments:
Total adjustments
Adjusted balance
Journalize the necessary entries a that increase cash and b that decrease cash. The accounts have not been closed. For a compound entry, if an amount box does not require an entry, leave it blank.
July
July
If a balance sheet were prepared for Stone Systems on July what amount should be reported as cash?
$
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