Question
The following data have been gathered for Manoa Company to assist you in preparing the July 31, 2022, bank reconciliation: a) The July 31 bank
The following data have been gathered for Manoa Company to assist you in preparing the July 31, 2022, bank reconciliation: a) The July 31 bank balance was $4,000. b) The bank statement included $30 of service charges. c) There was an EFT deposit of $900 on the bank statement for the monthly rent due from a tenant. d) Cheques #541 and #543 for $205 and $320, respectively, were not among the processed cheques returned with the statement. e) The July 31 deposit of $4,435 did not appear on the bank statement. f) The bookkeeper had erroneously recorded a $500 cheque as $5,000. The cheque was written to a vendor to pay off an accounts payable. g) Included with the processed cheques was a cheque written by another company for $200, which was deducted from Manoa Company's account by mistake. h) The bank statement included an NSF cheque written by Minnie Company for a $460 payment on account. i) The cash account showed a balance of $3,200 on July 31. Prepare the July 31, 2022, bank reconciliation for Manoa Company in GOOD FORM. (20 marks) Omit Explanations
Step 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