Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Homework Saved OK The following information is available for Park Valley Spa for July, Year 1: BANK STATEMENT STATE BANK BOLTA VISTA, NV 10001 Park

image text in transcribed
image text in transcribed
Homework Saved OK The following information is available for Park Valley Spa for July, Year 1: BANK STATEMENT STATE BANK BOLTA VISTA, NV 10001 Park Valley Spa Account number 10 Main Street 12-4567 Bolta Vista, NV 19001 July 31, Year 1 Beginning balance 6/30/Year 1 $ 9,031 Total deposits and other credits 29,800 Total checks and other debits 23,902 Ending balance 7/31/Year 1 14,929 Checks and Debits Deposits and Credits Check No. Amount Date Amount 2350 $3,761 July 1 $1,102 2351 1,643 July 19 6,498 2352 8,800 July 15 4,929 2354 2,894 July 21 6,174 2355 1,401 July 26 5,963 2357 6,187 July 30 2,984 DM 16 3,050 onces The following is a list of checks and deposits recorded on the books of the Park Valley Spa for July, Year 1: Amount of Amount of Date Check No. Check Date Deposit July 2 2351 $1,643 July 8 $6,498 July 4 2352 8,000 July 14 4,929 July 10 2353 1,500 July 21 6,174 July 10 2354 2,894 July 26 5,963 July 15 2355 1,401 July 29 2,084 July 20 2356 745 July 30 3,550 July 22 2357 6, 187 Mc Other Information 1. Check no. 2350 was outstanding from June 2. The credit memo was for collection of notes receivable. 3. All checks were paid at the correct amount. 4. The debit memo was for printed checks. 5. The June 30 bank reconciliation showed a deposit in transit of $1,102. 6. The unadjusted Cash account balance at July 31 was $13,200. K nces Required Prepare the bank reconciliation for Park Valley Spa at the end of July (Negative amounts should be indicated with minus sign.) PARK VALLEY SPA Bank Reconciliation July 31, Year 1 Unadjusted Bank Balance, July 31, Year 1 True Cash Balance, July 31, Year 1 Unadjusted Book Balanco, July 31, Year 1 True Cash Balance, July 31. Year 1 c

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

Business Information Systems For Accounting Students

Authors: Martin Quinn

1st Edition

0273773526, 9780273773528

More Books

Students also viewed these Accounting questions