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IThe following Information applies to the questions displayed below.] Rick Hall owns a card shop, Hall's Cards. The following cash Information Is avallable for the
IThe following Information applies to the questions displayed below.] Rick Hall owns a card shop, Hall's Cards. The following cash Information Is avallable for the month of August 2016 As of August 31, the bank statement shows a balance of $13,450. The August 31 unadjusted balance In the Cash account of Hall's Cards is $9,073. A review of the bank statement revealed the following Information: 1. A deposit of $1,100 on August 31, 2016, does not appear on the August bank statement. 2. It was discovered that a check to pay for baseball cards was correctiy written and paid by the bank for $1,795 but was recorded on the books as $2,695. 3. When checks written during the month were compared with those pald by the bank, three checks amounting to $4,640 were found to be outstanding 4. A debit memo for $63 was Included in the bank statement for the purchase of a new supply of checks. value 2.85 points Required a. Prepare a bank reconciliation at the end of August showing the true cash balance HALL'S CARDS Bank Reconciliation August 31, 2016 Unadjusted Bank Balance, August 31, 2016 True Cash Balance, August 31, 2016 Unadjusted Book Balance, August 31, 2016 True Cash Balance, August 31, 2016
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