Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following information is available for the Topper Company for the month of July a. On July 31, after all transactions have been recorded, the
The following information is available for the Topper Company for the month of July a. On July 31, after all transactions have been recorded, the balance in the company's Cash account has a balance of $15,244 b. The company's bank statement shows a balance on July of $16,450. c. Outstanding checks at July total $2,063. d. A credit memo included with the bank statement indicates that the bank collected $570 on a note receivable for Topper. The $570 includes $550 principle and $20 interest. List the principle and interest on two separate lines e. A debit memo included with the bank statement shows a $107 NSF check from a customer, Paula Flank. f. A deposit placed in the bank's night depository on July 31 totaling $1,275 did not appear on the bank h. Included with the bank statement was a debit memorandum in the amount of $45 for check printing charges that have not been recorded on the company's books Prepare the July bank reconciliation for the Topper Company A bank reconciliation reguires a proper header e commas where needed Spell out all words eTo ay NOl have aenty on every kme Enter header here Bank statement balance Add: Book balance Add: Subtotal Deduct: Subtotal Deduct: Adjusted bak ance Adjusted book balance
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