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I couldn't add on the photo the missing part of Account titles and Explanation Solish Brothers Inc.'s bank statement from Main Street Bank at August
I couldn't add on the photo the missing part of Account titles and Explanation
Solish Brothers Inc.'s bank statement from Main Street Bank at August 31, 2022, gives the following information, $50 Balance, August 1 August deposits Checks cleared in August Bank credit memorandum: Interest earned $18,540 Bank debit memorandum 71,140 Safety deposit box foe 68,653 Service charge Balance, August 31 20,972 70 A summary of the Cash account in the ledger for August shows the following: balance, August 1, $18,840; receipts $74,140; disbursements $73,545; and balance, August 31, $19,435. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,825 and outstanding checks of $4,525. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was journalized and posted for $40. Determine deposits in transit. Deposits in transit Determine outstanding checks. (Hint: You need to correct disbursements for the check error) Outstanding checks Prepare a bank reconciliation at August 31. (List Items that increase balance as per bank & books first.) SPLISH BROTHERS INC. Bank Reconellation Screenshot Joumalize the adjusting entries to be made by Splish Brothers Inc. at August 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)Step by Step Solution
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