Hw ch.6

q4

The following information is availoble to reconcile Eranch Company's book balance of cash with its bank statement cash balance as of July 31 a. On July 31, the company's Cash account has a $25.042 debit balance, but is July bank staternent shows a $26. 805 cash balance. b. Check Number 3031 for $1270, Check Number 3065 for $411, and Check Number 3069 for $2038 are outstanding checks as of July 31 c. Check Number 3056 for July rent expense was correctly witten and drawn for $1,230 but was erroneously entered in the accounting records as $1,220 d. The July bank statement shows the bank collected 56,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $9 bank service charge it has not yet been recorded in miscellaneous expenses because no previous notification had been recewed. 9. Branch's July 31 dally cash receipts of $7.132 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement Required: 1. Prepare the bank reconciliation for this company as of 3uly31