Question
China Imports' bank statement, as of July 31, 20xx shows a balance of $14,460. The July 31st unadjusted balance in the companys cash account is
China Imports' bank statement, as of July 31, 20xx shows a balance of $14,460. The July 31st unadjusted balance in the companys cash account is $16,250.
a. The bank statement indicated that China Imports earned $60 of interest revenue.
b. China Import's accountant mistakenly recorded a $430 check that was written to purchase supplies as $350.
c. Bank service charges for the month were $45.
d. The bank reconciliation disclosed that $800 had been stolen from China Imports' business.
e. Outstanding checks amounted to $2,600.
f. The bank collected $4,000 of China Imports' accounts receivable. China Imports has instructed its customers to send their payments directly to the bank.
g. The bank mistakenly gave Imports Inc. credit for a $800 deposit made by China Imports.
h. Deposits in transit were $6,200.
i. China Import's bank statement contained a $525 NSF check. China Imports had received the check from a customer and had included it in one of its bank deposits.
Prepare a bank reconciliation for July.
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