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NEED ASWERS ASAP PLEASE !! On May 31, 2017, Reber Company had a cash balance per books of $6,881.50. The bank statement from New York
NEED ASWERS ASAP PLEASE !!
On May 31, 2017, Reber Company had a cash balance per books of $6,881.50. The bank statement from New York State Bank on that date showed a balance of $6,504.60. A comparison of the statement with the cash account revealed the following facts.
1. | The statement included a debit memo of $45.00 for the printing of additional company checks. | |
2. | Cash sales of $631.00 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $681.00. The bank credited Reber Company for the correct amount. | |
3. | Outstanding checks at May 31 totaled $694.25. Deposits in transit were $2,516.15. | |
4. | On May 18, the company issued check No. 1181 for $661 to Lynda Carsen on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Reber Company for $616. | |
5. | A $3,100.00 note receivable was collected by the bank for Reber Company on May 31 plus $85.00 interest. The bank charged a collection fee of $25.00. No interest has been accrued on the note. | |
6. | Included with the cancelled checks was a check issued by Stiner Company to Ted Cress for $900.00 that was incorrectly charged to Reber Company by the bank. | |
7. | On May 31, the bank statement showed an NSF charge of $675.00 for a check issued by Sue Allison, a customer, to Reber Company on account. |
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