Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Hathaway Company's geperal ledger shows a cash account balance of $23,320 on July 31, 2024. Cash sales of $1,876 for the last three days of

image text in transcribed
image text in transcribed
image text in transcribed
Hathaway Company's geperal ledger shows a cash account balance of $23,320 on July 31, 2024. Cash sales of $1,876 for the last three days of the month have not yet been deposited. The bank statement dated July 31 shows bank service fees of $54 and an NSF check from a customer of $340. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,540. The bank statement shows a balance of $22,590 on July 31 . Required: 1. Prepare a bank reconciliation to calculate the correct balance of cash on July 31,2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Prepare a bank reconcliation to calculate the correct balance of cash on July 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the amounts that decrease cash. Note: Enter debits before credits

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Horngrens Accounting

Authors: Tracie L. Miller nobles, Brenda L. Mattison, Ella Mae Matsumura

12th edition

978-0134674681

Students also viewed these Accounting questions