Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Current Attempt in Progress Your answer is partially correct. The following incomplete information related to the August 2025 bank reconciliation of Blossom Mountain Inc. is
Current Attempt in Progress Your answer is partially correct. The following incomplete information related to the August 2025 bank reconciliation of Blossom Mountain Inc. is provided. Find the missing amounts. (Note - enter increases as positive numbers and decreases as negative numbers.) Reconciling Journal Entries - August 2025 \begin{tabular}{lr} Reconciled Cash Balance - Aug 1 & 56,500 \\ Unreconciled Cash Balance - Aug 31 & 71,380 \\ Deposits In Transit & 7,440 \\ Deposits in transit - July 31 & 99,200 \\ Deposits per books - August & (91,760) \\ \hline Deposits per bank - August & 14,880 \\ Deposits in transit - Aug 31 & \end{tabular} Outstanding Cheques \begin{tabular}{lr} Outstanding cheques - July 31 & 6,820 \\ Cheques recorded per books - August & 84,320 \\ Correction of Error & 620 \\ Cheques cleared bank - August & (90,520) \\ Outstanding cheques - Aug 31 & 1,240 \\ \hline \end{tabular} BLOSSOM MOUNTAIN INC. Bank Reconciliation August 31, 2025 Cash balance per bank statement Add: Deposits in transit Less: Outstanding cheques Reconciled cash balance per bank Cash balance per books Less: Error Correction Add: Interest Earned Less: Bank Fees \& Safety Deposit Reconciled cash balance per books 50 (50)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started