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Required information Problem 6-4A Preparing a bank reconciliation and recording adjustments LO P3 The following information applies to the questions displayed below The following information
Required information Problem 6-4A Preparing a bank reconciliation and recording adjustments LO P3 The following information applies to the questions displayed below The following information is available to reconcile Branch balance as of July 31, 2017 a. On July 31,the company's Cash account has o $25,644 debit balance, but its July bank statement shows a $27.315 cash balance. b. Check No. 3031 for $1,260 and Check No. 3040 for $622 were outstanding on the June 30 bank reconciliation. Check is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $406 and Check No. 3069 for $2, 028, both written in July, are not among the canceled checks on the July 31 statement. c. In comparing the canceled checks on the bank statement with the entries in the acco Check No. 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. statement shows the bank collected $8,500 cash on a noninterest-bearing note for Branch, deducted a expense, and credited the remainder to its account. Branch had not recorded this event before receiving the statement. . The bank statement shows an $805 charge for a $795 NSF check plus a $10 NSF charge. The check had been f. The July received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF statement shows a $13 bank service charge. it has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daly cash receipts of $9.652 were placed in the bank's night depository on that date but do appear on the July 31 bank statement Problem 6-4A Part 2 C Prev 6 of 8 Next > 3 5 6 0
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