Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
The cash account of Oriole Co . showed a ledger balance of $ 1 9 . 5 6 1 . 2 5 on June 3
The cash account of Oriole Co showed a ledger balance of $ on June The bank statement as of that date showed a balance of $ Upon comparing the statement with the cash records, the following facts were determined. There were bank service charges for June of $ A bank memostated that Bao Dai's note for $ and interest of $ had been collected on June and the bank had made a charge of $ on the collection. No entry had been made on Oriole's books when Bao Dai's note was sent to the bank for collection. Receipts for June for $ were not deposited until July Checks outstanding on fune totaled $ The bank had charged the Oriole Co's account for a customer's uncollectible check amounting to $ on June Acustomer's check for $as payment on the customer's Accounts Receivahle had been entered as $ in the cash receipts journal by Oriole on June Check no in the amount of $ had been entered in the cashjournal as $ and check no in the amount of $had been entered as $ Both checks had been issued to pay for purchases and were payments on Oriole's Accounts Payable. Prepare a bank reconciliation dated June proceeding to a correct cash balance. Enter answers to decimal places, eg Question of $ $ Add: Balance per Books Bank Service Charges Correct Cash Balance Deposits in Transit Error in Recording Deposit Error on Check no Error on Checkno. Note Collection NSF Check Outstanding Checks Question of Add: $ Less: $
The cash account of Oriole Co showed a ledger balance of $ on June The bank statement as of that date showed a balance of $ Upon comparing the statement with the cash records, the following facts were determined. There were bank service charges for June of $ A bank memostated that Bao Dai's note for $ and interest of $ had been collected on June and the bank had made a charge of $ on the collection. No entry had been made on Oriole's books when Bao Dai's note was sent to the bank for collection. Receipts for June for $ were not deposited until July Checks outstanding on fune totaled $ The bank had charged the Oriole Co's account for a customer's uncollectible check amounting to $ on June Acustomer's check for $as payment on the customer's Accounts Receivahle had been entered as $ in the cash receipts journal by Oriole on June Check no in the amount of $ had been entered in the cashjournal as $ and check no in the amount of $had been entered as $ Both checks had been issued to pay for purchases and were payments on Oriole's Accounts Payable. Prepare a bank reconciliation dated June proceeding to a correct cash balance. Enter answers to decimal places, eg Question of $ $ Add: Balance per Books Bank Service Charges Correct Cash Balance Deposits in Transit Error in Recording Deposit Error on Check no Error on Checkno. Note Collection NSF Check Outstanding Checks Question of Add: $ Less: $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started