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Required information The following information applies to the questions displayed below The following information is available to reconcile Branch Company's book balance of cash with
Required information The following information applies to the questions displayed below The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31, 2017 a. On July 31, the company's Cash account has a $25,644 debit balance, but its July bank statement shows a $27,585 cash balance b. Check No. 3031 for $1,360 and Check No. 3040 for $672 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $456 and Check No. 3069 for $2,128, 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 accounting records, it is was correctly written and drawn for $1,220 but was found that Check No. 3056 for July rent expense erroneously entered in the accounting records as $1,210. d. The July bank statement s hows the bank collected $5,500 cash on a noninterest-bearing note for Branch, deducted a $28 collection expense, and credited the remainder to its account e. The bank statement shows an $805 charge for a $795 NSF check plus a $10 NSF charge. The check had f. The July statement shows a $8 bank service charge. It has not yet been recorded in miscellaneous g. Branch's Jul been received from a customer, Evan Shaw. Branch has n expenses because no previous notification had been received. do not appear on the July 31 bank statement. ot yet recorded this check as NSF y 31 daily cash receipts of $6,652 were placed in the bank's night depository on that date but Required: 1. Prepare the bank reconciliation for this company as of July 31, 2017 BRANCH COMPANY
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