Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nancy Lansbury Company deposits all receipts and makes all payments by check The following information is available from the cash records. June 30 Bank Reconciliation

image text in transcribed

Nancy 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 Add: Deposits in transit Deduct: Outstanding checks Balance per books $23.800 5.236 6.800) $22.236 Month of July Results Per Bank $29.410 15.300 13,600 5.100 Per Books $31.450 19.754 10.540 Balance July 31 July deposits uy checks July note collected (not included in July deposits July bank service charge July NSF check from a customer returned by the bank (recorded by bank as a charge 51 1.139 Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance NANCY LANSBURY COMPANY Bank Reconciliation July 31 Prepare the general journal entry to correct the cash account of no entry is required select "No Entry for the accounties and enter for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually Account Titles and Explanation Debit Credit

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_2

Step: 3

blur-text-image_3

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

Auditing and Assurance Services

Authors: Timothy Louwers, Allen Blay, David Sinason, Jerry Strawser, Jay Thibodeau

7th edition

978-1259573286, 1259573281, 978-1260152166

More Books

Students also viewed these Accounting questions

Question

Describe what to do if you ingest a date rape drug.

Answered: 1 week ago

Question

Define human resource management.

Answered: 1 week ago