Question
Please help me with this, show me all formulas, calculations, solutions and answer. Cave Inc.'s bank statement from Friendly Bank at August 31, 2019, provided
Please help me with this, show me all formulas, calculations, solutions and answer.
Cave Inc.'s bank statement from Friendly Bank at August 31, 2019, provided the following information: Balance, August 1 August deposits Cheques cleared in August Bank credit memorandum Interest earned $18,600 71,000 66,678 Bank debit memorandum: Safety deposit box fee Service charge Balance, August 31 $ 25 30 22,912 A summary of the Cash account for August shows the followng: balance, August 1, receipts disbursements balance, August 31, s 21,100, s 81,000; S 73,570; and s 28,530_ Analysis reveals that the only reconciling items on the July 31 bank reconciliation statement were deposit in transit for outstanding checks of S 7,000 and s 4,500. In addition, you determine that there was an error involving a company cheque drawn in August: cheque for $400 to a creditor on account that cleared the bank in August was recorded for $40. Required (a) (b) (c) Determine deposits in transit Determine outstanding cheques Prepare a bank reconciliation statement at August 31
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