Case A: Val and Daughters Tailors Val and Daughters Tailors has been in business for almost fifty years. Valerie Zuccarello started the family business at age 22, after immigrating to Kelowna, BC with her husband and 3-year old twin daughters. Though she didnt speak English well, Val persevered to build a loyal customer base in the area. Within five years, Val had enough business activity to rent a small shop, where she worked instead of out of her living room. Today, the business employs three full-time tailors and has a large store front selling high-end Italian clothing and sewing items. Val ran into health problems last month and she has finally agreed to step back to let Gina and Marie run things. The twins have been pushing for major changes in the business for several years. Now that the right opportunity has presented itself, Gina and Marie are intent on not doing business in the same manner as their mother. Val had primarily relied on her own instincts for business decisions, but the company will finally see a new direction this year. Gina has an MBA and she will be handling the business side of things while Marie will focus on product quality and development. Ginas biggest concerns are the companys financial records. Val refused to let anyone else access the companys books; she felt that she was the best person to run the business she had built. Last week, there was a letter from the bank around concerns of delinquency. The business still owes a fair amount on the new building it purchased seven years ago, and Gina feels anxious that there is only a short time to turn things around! Here is a part of a letter Val received from the bank: According to our records, Val and Daughters Tailors Inc. missed the last monthly payment on its mortgage, on July 20th. Kindly pay the amount of the missed payment plus penalty by August 20th, to avoid recall of the bank loan. Here is a summary of the mortgage payable to Okanagan Credit Union: Mortgage Balance, Jul 20th Penalty on missed payment Mortgage payment payable on Aug 20th $ 252,159.02 120.00 2,564.66 Missed Jul 20th payment 2,564.66 Interest accrued at mortgage rate (5.85%) 12.50 Total payable on Aug 20th $ 5,261.82 Gina knows that her mom prefers to do business with known parties. She has dealt with the same advisor at the bank for the past twenty years and trusts him fully with all business matters. Gina recently read an article about interest rates dropping and she is wondering why the mortgage didnt renew at a different rate. Gina prefers for the mortgage payments to be automatically drawn from the companys Bank of Vancouver chequing account (as her and Maries compensation is, on the 28th of each month), but doesnt want to make quick changes without analyzing all the issues first. She knows her mom preferred a paper trail for all transactions, so she usually got her bookkeeper of forty years, Gail, to write cheques and deposit them at the bank. Since Val often spent full days training new tailors, she had given Gail signing authority, so important training sessions wouldnt be disturbed over trivial matters. Case A: Val and Daughters Tailors Yesterday, Gina took a quick look at the company chequebook. Gail seems to open the book to a random page when tearing out a cheque to issue. Hence, the cheque records seem disorganized. Fortunately, there were no cheques outstanding at the end of the last quarter, June 30th (The bank balance matched the companys books). Gina will need to look through the company records and bank statements to ensure all outstanding cheques are accounted for. Here are Gails records since July 1st: Date July 2 July 4 July 5 July 9 July 9 July 15 July 15 July 15 July 15 July 15 July 19 July 22 July 23 July 27 July 31 July 31 July 31 July 31 July 31 July 31 Aug 3 Aug 5 Aug 10 Aug 10 After seeing the surprised to see of her own pocket, since Val has been sick. If only she had set up a petty cash box like I told her to, all those years ago! I wouldnt have to write cheques all the time! Gina decides to drop the issue instead of angering Gail further. In any case, Gina realizes a concrete policy about office expenses would help avoid such problems- perhaps her mom did emphasize paper trails too much. Maybe Gail should be allowed to make cash withdrawals for a petty cash fund, so she isnt as stressed out. It has been tough going with Gail lately- Gina requested the companys bank records three times from her with no success, before finally just getting them herself from the bank. Gina feels bad for nagging such a busy bookkeeper, but she is aware that Gail is retiring at the end of the month so its better everything gets sorted out sooner rather than later! Chq number 1084 1234 1235 1071 1072 900 901 902 903 904 871 1001 1002 1046 981 982 983 984 985 1170 1030 1236 1171 1212 Amount $396.90 $23.70 $430.05 $201.98 $166.91 $919.03 $1,130.67 $874.11 $1,350.31 $639.13 $2,564.66 $653.77 $700.00 250.00 $919.03 $1,130.67 $874.11 $1,350.31 $639.13 $4,892.95 $380.04 $401.25 $201.98 $225.00 Payee BC Hydro Gail Anderson Fortis BC Telus Gail Anderson Stephen Reims Jenna Sharpe Alice Etna Gail Anderson Olena Hyde Okanagan Credit Union Gail Anderson Gail Anderson Hot & Cold Plumbing Stephen Reims Jenna Sharpe Alice Etna Gail Anderson Olena Hyde Panni Corleone BC Hydro Fortis BC Telus Gail Anderson Note Electricity bill Office supplies Gas bill Tele + Int Company lunch Payroll Payroll Payroll Payroll Payroll Mortgage payment iPad Stereo system Leak repair Payroll Payroll Payroll Payroll Payroll Supplier payment Electricity bill Gas bill Tele + Int Misc. Expenses records, Gina wonders why Gail gets so many small cheques and asks her. She is Gail react defensively, stating that she is forced to pay many of the office expenses out Case A: Val and Daughters Tailors Marie has observed that things seem to disappear from the store regularly. She has pushed her mom to strengthen security for many years, as the inventory is quite valuable. However, Val has resisted, insisting she completely trusts her customers and staff. I just cant imagine any of these dear people doing such bad things to a nice lady like me. Besides, I dont want to ruin the cozy family atmosphere we have in the store. Gina has heard Maries concerns and is open to adopting new technology to boost security and efficiency. Currently, the store uses old-fashioned price tags which are tied to the merchandise in a pretty bow. This has led to long lines in the store and some disagreement when customers cant make out Vals cursive handwriting. The lack of payment options (only cash accepted, though Val often lets customers pay later) has also led to customer frustration on more than a few occasions. Cash is stored in the register and the excess amount is deposited at the bank at the end of each week by either Val, Marie, Gina, or Gail. Here are Val and Daughters Tailors recent bank deposits: Date July 5 July 12 July 19 July 26 Aug 2 Aug 9 Amount $5,600 6,450 7,300 6,800 7,150 6,400 Required: Prepare a bank reconciliation using information from the case and company chequing account (shown on the next two pages). Identify all accounting issues raised in this case and make recommendations for Gina (including necessary journal entries). If more information is needed, list specific questions for Gina and/or questions Gina should ask others (also state why these questions are important). You are encouraged to refer to course information as well as other sources. Present your work in professional report form. Case A: Val and Daughters Tailors VAL AND DAUGHTERS TAILORS INC. 1840 DILWORTH DRIVE KELOWNA, B.C. V1Y 9T1 Statement of Account Branch No. Account No. 21 224014 Description Withdrawals Balance Forward Bank collection Chq #1084 396.90 Deposit Chq #1234 23.70 Chq #1072 166.91 Chq #1235 430.05 Deposit Chq #1071 201.98 Bank collection Chq #903 1,850.31 Chq #902 874.11 Chq #901 1,130.67 Deposit Chq #900 919.03 Chq #871 2,564.66 Deposit Chq #1001 653.77 Chq #1002 700.00 EFT- M. Zuccarello 5,000.00 EFT- G. Cironi 5,000.00 Interest Revenue Bank Service Charges 35.00 19,947.09 Deposits 476.84 5,600.00 6,450.00 1,225.25 7,300.00 6,800.00 19.97 27,872.06 Date July 3 July 5 July 5 July 6 July 10 July 10 July 12 July 14 July 15 July 17 July 18 July 18 July 19 July 21 July 21 July 26 July 26 July 26 July 28 July 28 July 31 July 31 Balance 30,571.09 31,047.93 30,651.03 36,251.03 36,227.33 36,060.42 35,630.37 42,080.37 41,878.39 43,103.64 41,253.33 40,379.22 39,248.55 46,548.55 45,629.52 43,064.86 49,864.86 49,211.09 48,531.06 43,531.06 38,531.06 38,531.06 38,496.06 38,496.06 Statement From - To July 1 to July 31 Page 1 of 1 Bank of Vancouver 560 Springfield Road Kelowna, BC V1Y 9N6 Business Checking Account Case A: Val and Daughters Tailors Account #224014 Transactions from 01/08 to 10/08: Description Withdrawals Deposits Date Balance 36,145.75 35,271.64 42,421.64 41,782.51 41,089.38 40,170.35 39,790.31 38,659.64 35,159.64 34,758.39 35,061.79 Chq# 984 2,350.31 Chq #1084 874.11 Deposit Chq #904 639.13 Chq #985 693.13 Chq #981 919.03 Chq #1030 380.04 Chq #982 1,130.67 Chq #1290 3,500.00 Chq #1236 401.25 Bank collection 7,150.00 303.40 Aug 2 Aug 2 Aug 2 Aug 3 Aug 3 Aug 4 Aug 5 Aug 6 Aug 7 Aug 8 Aug 10
Case A: Val and Daughters Tailors Val and Daughters Tailors has been in business for almost fifty years. Valerie Zuccarello started the family business at age 22, after immigrating to Kelowna, BC with her husband and 3-year old twin daughters. Though she didn't speak English well, Val persevered to build a loyal customer base in the area. Within five years, Val had enough business activity to rent a small shop, where she worked instead of out of her living room. Today, the business employs three full-time tailors and has a large store front selling high-end Italian clothing and sewing items. Val ran into health problems last month and she has finally agreed to step back to let Gina and Marie run things. The twins have been pushing for major changes in the business for several years. Now that the right opportunity has presented itself, Gina and Marie are intent on not doing business in the same manner as their mother. Val had primarily relied on her own instincts for business decisions, but the company will finally see a new direction this year. Gina has an MBA and she will be handling the business side of things while Marie will focus on product quality and development. Gina's biggest concerns are the company's financial records. Val refused to let anyone else access the company's books; she felt that she was the best person to run the business she had built. Last week, there was a letter from the bank around concerns of delinquency. The business still owes a fair amount on the new building it purchased seven years ago, and Gina feels anxious that there is only a short time to turn things around! Here is a part of a letter Val received from the bank: According to our records, Val and Daughters Tailors Inc. missed the last monthly payment on its mortgage, on July 20th. Kindly pay the amount of the missed payment plus penalty by August 20th, to avoid recall of the bank loan. Here is a summary of the mortgage payable to Okanagan Credit Union: Mortgage Balance, Jul 20th $ 252,159.02 Missed Jul 20th payment 2,564.66 Penalty on missed payment 120.00 Interest accrued at mortgage rate (5.85%) 12.50 Mortgage payment payable on Aug 20th 2,564.66 Total payable on Aug 20th $ 5,261.82 Gina knows that her mom prefers to do business with known parties. She has dealt with the same advisor at the bank for the past twenty years and trusts him fully with all business matters. Gina recently read an article about interest rates dropping and she is wondering why the mortgage didn't renew at a different rate. Gina prefers for the mortgage payments to be automatically drawn from the company's Bank of Vancouver chequing account (as her and Marie's compensation is, on the 28th of each month), but doesn't want to make quick changes without analyzing all the issues first. She knows her mom preferred a paper trail for all transactions, so she usually got her bookkeeper of forty years, Gail, to write cheques and deposit them at the bank. Since Val often spent full days training new tailors, she had given Gail signing authority, so important training sessions wouldn't be disturbed over trivial matters. Case A: Val and Daughters Tailors Yesterday, Gina took a quick look at the company chequebook. Gail seems to open the book to a random page when tearing out a cheque to issue. Hence, the cheque records seem disorganized. Fortunately, there were no cheques outstanding at the end of the last quarter, June 30th (The bank balance matched the company's books). Gina will need to look through the company records and bank statements to ensure all outstanding cheques are accounted for. Here are Gail's records since July 1st: Date July 2 July 4 July 5 July 9 July 9 July 15 July 15 July 15 July 15 July 15 July 19 July 22 July 23 July 27 July 31 July 31 July 31 July 31 July 31 July 31 Aug 3 Aug 5 Aug 10 Aug 10 Chq number 1084 1234 1235 1071 1072 900 901 902 903 904 871 1001 1002 1046 981 982 983 984 985 1170 1030 1236 1171 1212 Amount $396.90 $23.70 $430.05 $201.98 $166.91 $919.03 $1,130.67 $874.11 $1,350.31 $639.13 $2,564.66 $653.77 $700.00 250.00 $919.03 $1,130.67 $874.11 $1,350.31 $639.13 $4,892.95 $380.04 $401.25 $201.98 $225.00 Payee BC Hydro Gail Anderson Fortis BC Telus Gail Anderson Stephen Reims Jenna Sharpe Alice Etna Gail Anderson Olena Hyde Okanagan Credit Union Gail Anderson Gail Anderson Hot & Cold Plumbing Stephen Reims Jenna Sharpe Alice Etna Gail Anderson Olena Hyde Panni Corleone BC Hydro Fortis BC Telus Gail Anderson Note Electricity bill Office supplies Gas bill Tele + Int Company lunch Payroll Payroll Payroll Payroll Payroll Mortgage payment iPad Stereo system Leak repair Payroll Payroll Payroll Payroll Payroll Supplier payment Electricity bill Gas bill Tele + Int Misc. Expenses After seeing the records, Gina wonders why Gail gets so many small cheques and asks her. She is surprised to see Gail react defensively, stating that she is forced to pay many of the office expenses out of her own pocket, since Val has been sick. "If only she had set up a petty cash box like I told her to, all those years ago! I wouldn't have to write cheques all the time!" Gina decides to drop the issue instead of angering Gail further. In any case, Gina realizes a concrete policy about office expenses would help avoid such problems-perhaps her mom did emphasize paper trails too much. Maybe Gail should be allowed to make cash withdrawals for a petty cash fund, so she isn't as stressed out. It has been tough going with Gail lately- Gina requested the company's bank records three times from her with no success, before finally just getting them herself from the bank. Gina feels bad for nagging such a busy bookkeeper, but she is aware that Gail is retiring at the end of the month so it's better everything gets sorted out sooner rather than later! Case A: Val and Daughters Tailors Marie has observed that things seem to disappear from the store regularly. She has pushed her mom to strengthen security for many years, as the inventory is quite valuable. However, Val has resisted, insisting she completely trusts her customers and staff. "I just can't imagine any of these dear people doing such bad things to a nice lady like me. Besides, I don't want to ruin the cozy family atmosphere we have in the store." Gina has heard Marie's concerns and is open to adopting new technology to boost security and efficiency. Currently, the store uses old-fashioned price tags which are tied to the merchandise in a pretty bow. This has led to long lines in the store and some disagreement when customers can't make out Val's cursive handwriting. The lack of payment options (only cash accepted, though Val often lets customers pay later) has also led to customer frustration on more than a few occasions. Cash is stored in the register and the excess amount is deposited at the bank at the end of each week by either Val, Marie, Gina, or Gail. Here are Val and Daughters Tailors' recent bank deposits: Date July 5 July 12 July 19 July 26 Aug 2 Aug 9 Amount $5,600 6,450 7,300 6,800 7,150 6,400 Required: Prepare a bank reconciliation using information from the case and company chequing account (shown on the next two pages). Identify all accounting issues raised in this case and make recommendations for Gina (including necessary journal entries). If more information is needed, list specific questions for Gina and/or questions Gina should ask others (also state why these questions are important). You are encouraged to refer to course information as well as other sources. Present your work in professional report form. Case A: Val and Daughters Tailors Bank of Vancouver 560 Springfield Road Kelowna, BC V1Y 9N6 B V Business Checking Account VAL AND DAUGHTERS TAILORS INC. 1840 DILWORTH DRIVE KELOWNA, B.C. V1Y 9T1 Statement From - To July 1 to July 31 Statement of Account Branch No. Account No. 21 224014 Page 1 of 1 Withdrawals Deposits Date 476.84 396.90 5,600.00 23.70 166.91 430.05 6,450.00 201.98 1,225.25 Description Balance Forward Bank collection Cha #1084 Deposit Chq #1234 Chq #1072 Chg #1235 Deposit Chq #1071 Bank collection Chq #903 Cha #902 Chq #901 Deposit Cha #900 Chq #871 Deposit Chq #1001 Chq #1002 EFT- M. Zuccarello EFT-G. Cironi Interest Revenue Bank Service Charges 1,850.31 874.11 1,130.67 July 3 July 5 July 5 July 6 July 10 July 10 July 12 July 14 July 15 July 17 July 18 July 18 July 19 July 21 July 21 July 26 July 26 July 26 July 28 July 28 July 31 July 31 Balance 30,571.09 31,047.93 30,651.03 36,251.03 36,227.33 36,060.42 35,630.37 42,080.37 41,878.39 43,103.64 41,253.33 40,379.22 39,248.55 46,548.55 45,629.52 43,064.86 49,864.86 49,211.09 48,531.06 43,531.06 38,531.06 38,531.06 38,496.06 38,496.06 7,300.00 919.03 2,564.66 6,800.00 653.77 700.00 5,000.00 5,000.00 19.97 35.00 19,947.09 27,872.06 Case A: Val and Daughters Tailors Account #224014 - Transactions from 01/08 to 10/08: Description Withdrawals Deposits Chq# 984 2,350.31 Chg #1084 874.11 Deposit 7,150.00 Chq #904 639.13 Cha #985 693.13 Chg 1981 919.03 Chq #1030 380.04 Chg #982 1,130.67 Chg #1290 3,500.00 Chg #1236 401.25 Bank collection 303.40 Date Aug 2 Aug 2 Aug 2 Aug 3 Aug 3 Aug 4 Aug 5 Aug 6 Aug 7 Aug 8 Aug 10 Balance 36,145.75 35,271.64 42,421.64 41,782.51 41,089.38 40,170.35 39,790.31 38,659,64 35,159.64 34,758.39 35,061.79 Case A: Val and Daughters Tailors Val and Daughters Tailors has been in business for almost fifty years. Valerie Zuccarello started the family business at age 22, after immigrating to Kelowna, BC with her husband and 3-year old twin daughters. Though she didn't speak English well, Val persevered to build a loyal customer base in the area. Within five years, Val had enough business activity to rent a small shop, where she worked instead of out of her living room. Today, the business employs three full-time tailors and has a large store front selling high-end Italian clothing and sewing items. Val ran into health problems last month and she has finally agreed to step back to let Gina and Marie run things. The twins have been pushing for major changes in the business for several years. Now that the right opportunity has presented itself, Gina and Marie are intent on not doing business in the same manner as their mother. Val had primarily relied on her own instincts for business decisions, but the company will finally see a new direction this year. Gina has an MBA and she will be handling the business side of things while Marie will focus on product quality and development. Gina's biggest concerns are the company's financial records. Val refused to let anyone else access the company's books; she felt that she was the best person to run the business she had built. Last week, there was a letter from the bank around concerns of delinquency. The business still owes a fair amount on the new building it purchased seven years ago, and Gina feels anxious that there is only a short time to turn things around! Here is a part of a letter Val received from the bank: According to our records, Val and Daughters Tailors Inc. missed the last monthly payment on its mortgage, on July 20th. Kindly pay the amount of the missed payment plus penalty by August 20th, to avoid recall of the bank loan. Here is a summary of the mortgage payable to Okanagan Credit Union: Mortgage Balance, Jul 20th $ 252,159.02 Missed Jul 20th payment 2,564.66 Penalty on missed payment 120.00 Interest accrued at mortgage rate (5.85%) 12.50 Mortgage payment payable on Aug 20th 2,564.66 Total payable on Aug 20th $ 5,261.82 Gina knows that her mom prefers to do business with known parties. She has dealt with the same advisor at the bank for the past twenty years and trusts him fully with all business matters. Gina recently read an article about interest rates dropping and she is wondering why the mortgage didn't renew at a different rate. Gina prefers for the mortgage payments to be automatically drawn from the company's Bank of Vancouver chequing account (as her and Marie's compensation is, on the 28th of each month), but doesn't want to make quick changes without analyzing all the issues first. She knows her mom preferred a paper trail for all transactions, so she usually got her bookkeeper of forty years, Gail, to write cheques and deposit them at the bank. Since Val often spent full days training new tailors, she had given Gail signing authority, so important training sessions wouldn't be disturbed over trivial matters. Case A: Val and Daughters Tailors Yesterday, Gina took a quick look at the company chequebook. Gail seems to open the book to a random page when tearing out a cheque to issue. Hence, the cheque records seem disorganized. Fortunately, there were no cheques outstanding at the end of the last quarter, June 30th (The bank balance matched the company's books). Gina will need to look through the company records and bank statements to ensure all outstanding cheques are accounted for. Here are Gail's records since July 1st: Date July 2 July 4 July 5 July 9 July 9 July 15 July 15 July 15 July 15 July 15 July 19 July 22 July 23 July 27 July 31 July 31 July 31 July 31 July 31 July 31 Aug 3 Aug 5 Aug 10 Aug 10 Chq number 1084 1234 1235 1071 1072 900 901 902 903 904 871 1001 1002 1046 981 982 983 984 985 1170 1030 1236 1171 1212 Amount $396.90 $23.70 $430.05 $201.98 $166.91 $919.03 $1,130.67 $874.11 $1,350.31 $639.13 $2,564.66 $653.77 $700.00 250.00 $919.03 $1,130.67 $874.11 $1,350.31 $639.13 $4,892.95 $380.04 $401.25 $201.98 $225.00 Payee BC Hydro Gail Anderson Fortis BC Telus Gail Anderson Stephen Reims Jenna Sharpe Alice Etna Gail Anderson Olena Hyde Okanagan Credit Union Gail Anderson Gail Anderson Hot & Cold Plumbing Stephen Reims Jenna Sharpe Alice Etna Gail Anderson Olena Hyde Panni Corleone BC Hydro Fortis BC Telus Gail Anderson Note Electricity bill Office supplies Gas bill Tele + Int Company lunch Payroll Payroll Payroll Payroll Payroll Mortgage payment iPad Stereo system Leak repair Payroll Payroll Payroll Payroll Payroll Supplier payment Electricity bill Gas bill Tele + Int Misc. Expenses After seeing the records, Gina wonders why Gail gets so many small cheques and asks her. She is surprised to see Gail react defensively, stating that she is forced to pay many of the office expenses out of her own pocket, since Val has been sick. "If only she had set up a petty cash box like I told her to, all those years ago! I wouldn't have to write cheques all the time!" Gina decides to drop the issue instead of angering Gail further. In any case, Gina realizes a concrete policy about office expenses would help avoid such problems-perhaps her mom did emphasize paper trails too much. Maybe Gail should be allowed to make cash withdrawals for a petty cash fund, so she isn't as stressed out. It has been tough going with Gail lately- Gina requested the company's bank records three times from her with no success, before finally just getting them herself from the bank. Gina feels bad for nagging such a busy bookkeeper, but she is aware that Gail is retiring at the end of the month so it's better everything gets sorted out sooner rather than later! Case A: Val and Daughters Tailors Marie has observed that things seem to disappear from the store regularly. She has pushed her mom to strengthen security for many years, as the inventory is quite valuable. However, Val has resisted, insisting she completely trusts her customers and staff. "I just can't imagine any of these dear people doing such bad things to a nice lady like me. Besides, I don't want to ruin the cozy family atmosphere we have in the store." Gina has heard Marie's concerns and is open to adopting new technology to boost security and efficiency. Currently, the store uses old-fashioned price tags which are tied to the merchandise in a pretty bow. This has led to long lines in the store and some disagreement when customers can't make out Val's cursive handwriting. The lack of payment options (only cash accepted, though Val often lets customers pay later) has also led to customer frustration on more than a few occasions. Cash is stored in the register and the excess amount is deposited at the bank at the end of each week by either Val, Marie, Gina, or Gail. Here are Val and Daughters Tailors' recent bank deposits: Date July 5 July 12 July 19 July 26 Aug 2 Aug 9 Amount $5,600 6,450 7,300 6,800 7,150 6,400 Required: Prepare a bank reconciliation using information from the case and company chequing account (shown on the next two pages). Identify all accounting issues raised in this case and make recommendations for Gina (including necessary journal entries). If more information is needed, list specific questions for Gina and/or questions Gina should ask others (also state why these questions are important). You are encouraged to refer to course information as well as other sources. Present your work in professional report form. Case A: Val and Daughters Tailors Bank of Vancouver 560 Springfield Road Kelowna, BC V1Y 9N6 B V Business Checking Account VAL AND DAUGHTERS TAILORS INC. 1840 DILWORTH DRIVE KELOWNA, B.C. V1Y 9T1 Statement From - To July 1 to July 31 Statement of Account Branch No. Account No. 21 224014 Page 1 of 1 Withdrawals Deposits Date 476.84 396.90 5,600.00 23.70 166.91 430.05 6,450.00 201.98 1,225.25 Description Balance Forward Bank collection Cha #1084 Deposit Chq #1234 Chq #1072 Chg #1235 Deposit Chq #1071 Bank collection Chq #903 Cha #902 Chq #901 Deposit Cha #900 Chq #871 Deposit Chq #1001 Chq #1002 EFT- M. Zuccarello EFT-G. Cironi Interest Revenue Bank Service Charges 1,850.31 874.11 1,130.67 July 3 July 5 July 5 July 6 July 10 July 10 July 12 July 14 July 15 July 17 July 18 July 18 July 19 July 21 July 21 July 26 July 26 July 26 July 28 July 28 July 31 July 31 Balance 30,571.09 31,047.93 30,651.03 36,251.03 36,227.33 36,060.42 35,630.37 42,080.37 41,878.39 43,103.64 41,253.33 40,379.22 39,248.55 46,548.55 45,629.52 43,064.86 49,864.86 49,211.09 48,531.06 43,531.06 38,531.06 38,531.06 38,496.06 38,496.06 7,300.00 919.03 2,564.66 6,800.00 653.77 700.00 5,000.00 5,000.00 19.97 35.00 19,947.09 27,872.06 Case A: Val and Daughters Tailors Account #224014 - Transactions from 01/08 to 10/08: Description Withdrawals Deposits Chq# 984 2,350.31 Chg #1084 874.11 Deposit 7,150.00 Chq #904 639.13 Cha #985 693.13 Chg 1981 919.03 Chq #1030 380.04 Chg #982 1,130.67 Chg #1290 3,500.00 Chg #1236 401.25 Bank collection 303.40 Date Aug 2 Aug 2 Aug 2 Aug 3 Aug 3 Aug 4 Aug 5 Aug 6 Aug 7 Aug 8 Aug 10 Balance 36,145.75 35,271.64 42,421.64 41,782.51 41,089.38 40,170.35 39,790.31 38,659,64 35,159.64 34,758.39 35,061.79
