Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Organic Food Co.'s cash account shows a $6.400 debit balance and its bank statement shows $5,790 on deposit at the close of business on August

image text in transcribed
Organic Food Co.'s cash account shows a $6.400 debit balance and its bank statement shows $5,790 on deposit at the close of business on August 31, 9. August 31 cash receipts of $2,140 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 $210 NSF check from a customer the company has not yet recorded this NSF check c. Outstanding checks as of August 31 total $2,020. d. In reviewing the bank statement, an $170 check wiitten by Organic Fruits was mistakenly drawn against Organic Food's account e. The August 31 bank statement lists $110 in bank service charges, the company has not yet recorded the cost of these services Prepare a bank reconciliation using the above information ORGANIC FOOD CO Bank Reconciliation August 31 Book balance Add Bank statement balance Add Deduct Deduct Adjustod bank balance Adjusted book balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions