Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I'm try to do my homework now but these answers are not right Name: Date: Instructor: Course: E8-11 Prepare bank reconciliation and adjusting entries The
I'm try to do my homework now but these answers are not right
Name: Date: Instructor: Course: E8-11 Prepare bank reconciliation and adjusting entries The following information pertains to Crane Video Company. 1 Cash balance per bank, July 31, $7,263. 2 July bank service charge not recorded by the depositor $28. 3 Cash balance per books, July 31, $7,284. 4 Deposits in transit, July 31, $1,300. 5 Bank collected $700 note for Crane in July, plus interest $36, less fee $20. The collection has not been recorded by Crane, and no interest has been accrued. 6 Outstanding checks, July 31, $591. Instructions (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the books of Crane Video Company. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" . (a) CRANE VIDEO COMPANY Bank Reconciliation July 31 Cash balance per bank statement Add: Depostits in transit Less: Outstanding checks Adjusted cash balance per bank Cash balance per books Add: Notes,Recivable, Interest Less: Adjusteed cash balance per books (b) 31-Jul Account Account Value Value ? Value ? Value Value Account Account 5 2 $7,263 1,300 8,563 591 $7,972 31 Account Value Value Value Account ValueStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started