Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Laura Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records. June 30 Bank Reconciliation
Laura Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.
June 30 Bank Reconciliation | |||
---|---|---|---|
Balance per bank | $ 37,800 | ||
Add: Deposits in transit | 8,316 | ||
Deduct: Outstanding checks | ( 10,800 | ) | |
Balance per books | $ 35,316 |
Month of July Results | ||||
---|---|---|---|---|
Per Bank | Per Books | |||
Balance July 31 | $ 46,710 | $ 49,950 | ||
July deposits | 24,300 | 31,374 | ||
July checks | 21,600 | 16,740 | ||
July note collected (not included in July deposits) | 8,100 | |||
July bank service charge | 81 | |||
July NSF check from a customer, returned by the bank (recorded by bank as a charge) | 1,809 |
Step 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