Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

LEDULE To group tabs together, right-click a tab ouTube A Maps Got it Remind me later Saved Required information Problem 8-4A Preparing a bank reconciliation

image text in transcribed
image text in transcribed
LEDULE To group tabs together, right-click a tab ouTube A Maps Got it Remind me later Saved Required information Problem 8-4A Preparing a bank reconciliation and recording adjustments LO P3 The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $27,497 debit balance, but its July bank statement shows a $27.233 cash balance b. Check No. 3031 for $1.482. Check No. 3065 for $382. and Check No. 3069 for $2.281 are outstanding checks as of July 31 c. Check No. 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1.250. d. The July bank statement shows the bank collected $7.955 cash on a note for Branch Branch had not recorded this event before receiving the statement e. The bank statement shows an $805 NSF check. The check had been received from a customer Evan Shaw Branch has not yet recorded this check as NSF. f. The Holy statement shows a $25 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received g. Brandhis Woly 31 dolly cash receipts of $11,514 were placed in the bank's night depository on that date but do not appear on the jury 31 bank statement. Problem 8-4A Part 2 View transaction list Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Nike Inc Strategic Audit SWOT Pestle Competitor And Financial Analysis

Authors: Bankim Chandra Pandey

1st Edition

1973352516, 978-1973352518

More Books

Students also viewed these Accounting questions

Question

7. Identify six intercultural communication dialectics.

Answered: 1 week ago