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explanation with the answer, please? I am struggling in my accounting class :( 1 1 Required information (The following information applies to the questions displayed
explanation with the answer, please? I am struggling in my accounting class :(
1 1 Required information (The following information applies to the questions displayed below.) Rick Hall owns a card shop: Hall's Cards. The following cash information is available for the month of August Year 1. Part 1 of 2 As of August 31, the bank statement shows a balance of $12,205. The August 31 unadjusted balance in the Cash account of Hall's Cards is $7,899. A review of the bank statement revealed the following information: 1.81 points 1. A deposit of $1,140 on August 31, Year 1, does not appear on the August bank statement 2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $1,750 but was recorded on the books as $2.650. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,645 were found to be outstanding. 4. A debit memo for $99 was included in the bank statement for the purchase of a new supply of checks. eBook References Required a. Prepare a bank reconciliation at the end of August showing the true cash balance. HALL'S CARDS Bank Reconciliation August 31, Year 1 Unadjusted Bank Balance, August 31, Year 1 $ 0 True Cash Balance, August 31, Year 1 Unadjusted Book Balance, August 31, Year 1 True Cash Balance, August 31, Year 1 $ 0Step by Step Solution
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