Answered step by step
Verified Expert Solution
Question
1 Approved Answer
thank you in advance Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.) SUNLAND LTD. Bank
thank you in advance
Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.) SUNLAND LTD. Bank Reconciliation July 31 Question 2 On July 31, Sunland Ltd had a cash balance of $12,912 in its general ledger. The bank statement from the Caisse Populaire on that date showed a balance of $21,727. A comparso of the bank statement with the Cash account revealed the following 1. The bank statement included service charges and credit card fees of $112. 2. The bank statement included electronic collections from customers on account totaling $5,260. Sunland had not recorded the EFT 3. A deposit of 3,103 made by anoter company was incorrectly added to Sunland's account by the Caisse Populaire 4. Salaries of $4,162 were paid electronically during the month. The company has already recorded these. S. Cheques outstanding on June 30 totalled $2,725. Of these, $2,161 worth cleared the bank in July. All cheques written in July cleared the bank in JulyStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started