Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chapter 07 Homework Assignment (Graded) Assignment sent to Gradebook. Your grade is being recorded Sat, Apr 4, 2020,4:24:51 PM (America/New York-04:00) Question 3 View Policies

image text in transcribed
image text in transcribed
Chapter 07 Homework Assignment (Graded) Assignment sent to Gradebook. Your grade is being recorded Sat, Apr 4, 2020,4:24:51 PM (America/New York-04:00) Question 3 View Policies Current Attempt in Progress On July 31, 2022, Crane Company had a cash balance per books of $6,245.00. The statement from Dakota State Bank on that date showed a balance of $7,795.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $16.00. 2. The bank collected $1,625.00 from a customer for Crane Company through electronic funds transfer. 3. The July 31 receipts of $1,307.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $284.00 that cleared the bank in July was incorrectly entered in the cash payments Journal on July 10 for $245.00. 5. Checks outstanding on July 31 totaled $1,965.10. ed $1.965.10. 6. On July 31, the bank statement showed an NSF charge of $680.00 for a check received by the company from W.Krueger, a customer, on account. Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first hp Prepare the bank reconciliation as of July 31. (List Items that increase balance as per bank & books first.) CRANE COMPANY Bank Reconciliation

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

External Audit Auditing Business Functions And Assets

Authors: Bart Rohman

1st Edition

B0B5NR6TB6, 979-8839201767

More Books

Students also viewed these Accounting questions

Question

Use mesh analysis to find Vo in the network shown. 2KL2 6 12V 12V

Answered: 1 week ago

Question

Let S n be the nth partial sum of Find 00 8. k=1 lim ar and lim S.

Answered: 1 week ago

Question

What is your insight on leak documents' ethical dilemma

Answered: 1 week ago

Question

Determine miller indices of plane X z 2/3 90% a/3

Answered: 1 week ago