Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On August 31, 2024, the general ledger of Brusher Man Vacuum shows a balance for cash of $7,934. Cash receipts yet to be deposited into

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
On August 31, 2024, the general ledger of Brusher Man Vacuum shows a balance for cash of $7,934. Cash receipts yet to be deposited into the checking account total $3,303. The company's balance of cash does not reflect a debit card payment for the purchase of postage expense ($85) or an electronic funds transfer for rent expense ($1,415). The bank statement also revealed the company recorded a debit card transaction for supplies of $410, but the actual amount was $510. These amounts are included in the balance of cash of $3,031 reported by the bank as of the end of August. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2024. 2. Record the necessary entry(ies) to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) BRUSHER MAN VACUUM Bank Reconciliation August 31, 2024 Required 1 Required 2 Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) BRUSHER MAN VACUUM Bank Reconciliation August 31, 2024 Company's Cash Balance Per general ledger Bank's Cash Balance Per bank statement Bank balance per reconciliation Company balance per reconciliation Required: Required 2 > Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits. General Journal Debit Credit Date August 31, 2024 Record entry Clear entry View general Journal Journal entry worksheet Record the amounts that decrease cash. Note: Enter debits before credits. Date General Journal Debit Credit August 31, 2024

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

More Books

Students also viewed these Accounting questions

Question

Write short notes on Interviews.

Answered: 1 week ago