Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please fill out the chart Organic Food Co.'s cash account shows a $7,000 debit balance and its bank statement shows $6,210 on deposit at the

please fill out the chart
image text in transcribed
Organic Food Co.'s cash account shows a $7,000 debit balance and its bank statement shows $6,210 on deposit at the close of business on August 31. 1. August 31 cash receipts of $2,740 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 $270 NSF check from a customer the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $2,620 d. In reviewing the bank statement, an $230 check written by Organic Fruits was mistakenly drawn against Organic Food's account e. The August 31 bank statement lists $170 in bank service charges the company has not yet recorded the cost of these services. Prepare a bank reconcilitation using the above information ORGANIC FOOD CO Bank Reconciliation August 31 Book balance Add: Bank stitorent balance Add: Deduct Deduct Adjusted bank bastante Aduted book bance

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

Students also viewed these Accounting questions

Question

Approaches to Managing Organizations

Answered: 1 week ago

Question

Communicating Organizational Culture

Answered: 1 week ago