Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rick Hall owns a card shop, Hall's Cards. The following cash information is available for the month of August, Year 3. As of August 31,

image text in transcribed
image text in transcribed
Rick Hall owns a card shop, Hall's Cards. The following cash information is available for the month of August, Year 3. As of August 31, the bank statement shows a balance of $11.730. The August 31 unadjusted balance in the Cash account of Hall's Cards is $8,391. A review of the bank statement revealed the following information: 1. A deposit of $1,870 on August 31, Year 3. does not appear on the August bank statement 2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $3140 but was recorded on the books as $4,040. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4 385 were found to be outstanding, 4. A debit memo for $76 was included in the bank statement for the purchase of a new supply of checks. Required Prepare a bank reconciliation at the end of August showing the true cash balance (Negative amounts should be indicated with minus sign.) HALL'S CARDS Bank Reconciliation August 31, Year veya Prepare a bank reconciliation at the end of August showing the true cash balance. (Negative amounts should be indicated with minus sign.) HALL'S CARDS Bank Reconciliation August 31, Year 3 Unadjusted Bank Balance, August 31, Year 3 True Cash Balance August 31 Year 3 Unadjusted Book Balance August 31 Year 3 True Cash Balance August 31 Year 3

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

Recommended Textbook for

Building Accounting Systems Using Access 2010

Authors: James Perry, Richard Newmark

8th Edition

1111530998, 978-1111530990

More Books

Students also viewed these Accounting questions