Question
Organic Food Company's cash account shows a $7200 debit balance and it's bank statement shows $6350 on deposits at the close of business on Aug.
Organic Food Company's cash account shows a $7200 debit balance and it's bank statement shows $6350 on deposits at the close of business on Aug. 31.
a. August 31 cash receipts of $2940 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement.
b. The bank statement shows a $290 NSF check form a customer, the company has not yet recorded this NSF check.
c. Outstanding checks as of August 31 total $2820.
d. In the reviewing bank statement, an $250 check written by Organic Fruits was mistakenly drawn against Organic Food account.
e. The August 31 bank statement lists $190 in bank service charges; the company has not yet recorded the cost of these services.
Organic Food Co
Bank Reconciliation
August 31
Bank Statement Balance | Book Balance | ||||
Add | Add | ||||
Deduct | Deduct | ||||
Adjusting Bank Balance | Adjusted Book Balance | ||||
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