Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

*Exercise 7-24 Skysong Lansbury Company deposits a receipts and makes all payments by check. The following information is available from the cosh records. June 30

image text in transcribedimage text in transcribed

*Exercise 7-24 Skysong Lansbury Company deposits a receipts and makes all payments by check. The following information is available from the cosh records. June 30 Bank Reconciliation Balance per bank Add: Deposits in transit Deduct: Outstanding checks Dalance per books 36,400 8,008 (10,400) $34,008 Month of July Results Per per Bank Books $48,100 26,000 30,212 20,800 6,120 $44,980 Balance July 31 July deposits July checks July note collected (not included in July deposits) July bank scrvice charge July NSF chack from a customer, returned by the bank (recorded by bank as a charge) S,200 78 1,742 Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance SONG LANSBURY Bank R conciliation July 31 Prepare the general journal entry to correct the Cash account. (If no entry is requuired, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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

Modern Auditing

Authors: Graham Cosserat

1st Edition

0471810584, 9780471810582

More Books

Students also viewed these Accounting questions

Question

Find the four fourth roots of 1.

Answered: 1 week ago

Question

Whats involved in listening?

Answered: 1 week ago