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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 Y 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: Checks outstanding totaled $ A deposit of $ representing receipts of July had been made too late to appear on the bank statement. The bank had collected $ on a note left for collection. The face of the note was $ A check for $ returned with the statement had been incorrectly recorded by Stone Systems as $ The check was for the payment of an obligation to Holland Co for the purchase of office supplies on account. A check drawn for $ had been incorrectly charged by the bank as $ Bank service charges for July amounted to $ Required: Question Content Area Prepare a bank reconciliation. Stone Systems Bank Reconciliation July Y Cash balance according to bank statement blank $fill in the blank fefefc Select $ Select Select blank Total deductions blank fill in the blank fefefc Adjusted balance blank $fill in the blank fefefc Cash balance according to company's records blank $fill in the blank fefefc Adjustments: blank blank $ Select Select blank Total additions blank fill in the blank fefefc blank Select Adjusted balance blank $fill in the blank fefefc Question Content Area Journalize the necessary entries a that increase cash and b that decrease cash. The accounts have not been closed. If an amount box does not require an entry, leave it blank. Y July July Question Content Area If a balance sheet were prepared for Stone Systems on July Y what amount should be reported as cash? $fill in the blank aecf
Bank Reconciliation and Entries
The cash account for Stone Systems at July Y 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:
Checks outstanding totaled $
A deposit of $ representing receipts of July had been made too late to appear on the bank statement.
The bank had collected $ on a note left for collection. The face of the note was $
A check for $ returned with the statement had been incorrectly recorded by Stone Systems as $ The check was for the payment of an obligation to Holland Co for the purchase of office supplies on account.
A check drawn for $ had been incorrectly charged by the bank as $
Bank service charges for July amounted to $
Required:
Question Content Area
Prepare a bank reconciliation.
Stone Systems
Bank Reconciliation
July Y
Cash balance according to bank statement blank $fill in the blank fefefc
Select
$ Select
Select
blank
Total deductions blank fill in the blank fefefc
Adjusted balance blank $fill in the blank fefefc
Cash balance according to company's records blank $fill in the blank fefefc
Adjustments: blank blank
$ Select
Select
blank
Total additions blank fill in the blank fefefc
blank Select
Adjusted balance blank $fill in the blank fefefc
Question Content Area
Journalize the necessary entries a that increase cash and b that decrease cash. The accounts have not been closed. If an amount box does not require an entry, leave it blank.
Y July
July
Question Content Area
If a balance sheet were prepared for Stone Systems on July Y what amount should be reported as cash?
$fill in the blank aecf
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