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Hello, I need help with this one! Thank you Bank reconciliation and entries statement and the accompanying canceled checks and memos with the records reveals
Hello, I need help with this one! Thank you
Bank reconciliation and entries statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: a. Checks outstanding totaled $3,690. b. A deposit of $3,840, representing receipts of July 31 , had been made too late to appear on the bank statement. c. The bank had collected $2,000 on a note left for collection. The face of the note was $1,890. purchase of office supplies on account. e. A check drawn for $300 had been incorrectly charged by the bank as $30. f. Bank service charges for July amounted to $45. Required: 1. Prepare a bank reconciliation. Cash balance according Add: Deposit in transit Deduct: Outstanding cl Deduct: Bank error in Total deductions Adjusted balance Cash balance according to company's records Adjustments: Add: Note collected by bank, including $110 interest Add: Error in recording check by Stone Systems Total additions Deduct: Bank service charges Adjusted balance Vheck My Work respectively. 3. If a balance sheet were prepared for Stone Systems on July 31,20Y5, what amount should be reported as cash
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