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I finished the first part but I am struggling with the Second part which is part B. Tamarisk Company of Emporia, Kansas, spreads herbicides and
I finished the first part but I am struggling with the Second part which is part B.
Tamarisk Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2022, the company's Cash account showed a balance of $6,883.90 The bank statement from Emporia State Bank on that date showed the following balance. Checks and Debits XXX Emporia State Bank Deposits and Credits xkx Daily Balance 5-31 7.113.00 A comparison of the details on the bank statement with the details in the Cash account revealed the following facts. 1 The statement included a debit memo of $53.00 for the printing of additional company checks. Cash sales of $896.15 on May 12 were deposited in the bank. The cash receipts record and the deposit slip were incorrectly made for $946.15. The bank credited Tamarisk Company for the correct amount. 2. Cash sales of $896.15 on May 12 were deposited in the bank. The cash receipts record and the deposit slip were incorrectly made for $946.15. The bank credited Tamarisk Company for the correct amount Outstanding checks at May 31 totaled $267.25, and deposits in transit were $1,893,15. On May 18, the company issued check No. 1181 for $686.00 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly recorded by Tamarisk Company for $668.00. $2,848.00 was collected by the bank for Tamarisk Company on May 31 for a note receivable through electronic funds transfer Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $347.00 that was incorrectly charged to Tamarisk Company by the bank. On May 31, the bank statement showed an NSF charge of $525.00 for a check issued by Sara Ballard, a customer to Tamarisk Company on account. -- 5. 7. Bank Reconciliation May 31, 2022 Cash balance per bank statement 7,11300 Add Deposits in transit o 1.893.15 Bank errol 347.00 2.240 15 9.353.15 Outstanding charles 367 9.353.15 Less V: Outstanding checks 267.25 Adjusted cash balance per bank > Step by Step Solution
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