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The following information is for Oriole Ltd. in July: 1. Cash balance per bank, July 31, $10,680. 2. Cash balance per books, July 31, $8,940.
The following information is for Oriole Ltd. in July:
1. | Cash balance per bank, July 31, $10,680. | |
2. | Cash balance per books, July 31, $8,940. | |
3. | Bank service charge, $30. | |
4. | Deposits in transit, $1,985. | |
5. | Electronic receipts from customers in payment of their accounts, $1,310, not previously recorded by the company. | |
6. | Outstanding cheques, $2,355. | |
7. | Cheque #373 was correctly written in the amount of $890 but was incorrectly recorded by the companys bookkeeper as $980. The cheque was written to buy office supplies. |
(a)
Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.)
ORIOLE LTD. Bank Reconciliation July 31 | |||
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select an opening name for section one Cheque No. 373 errorCash balance per bank statementBank service chargesReconciled cash balance per bankDeposits in transitEFT depositsOutstanding cheques | $enter a dollar amount | ||
select between addition and deduction AddLess: select a reconciling item Cheque No. 373 errorCash balance per bank statementEFT depositsReconciled cash balance per bankOutstanding chequesDeposits in transitBank service charges | enter a dollar amount | ||
enter a subtotal of the two previous amounts | |||
select between addition and deduction AddLess: select a reconciling item Bank service chargesReconciled cash balance per bankDeposits in transitEFT depositsOutstanding chequesCash balance per bank statementCheque No. 373 error | enter a dollar amount | ||
select a closing name for section one Cheque No. 373 errorCash balance per bank statementEFT depositsBank service chargesReconciled cash balance per bankDeposits in transitOutstanding cheques | $enter a total amount for section one | ||
select an opening name for section two Cheque No. 373 errorOutstanding chequesCash balance per booksBank service chargesDeposits in transitReconciled cash balance per booksEFT deposits | $enter a dollar amount | ||
select between addition and deduction AddLess: | |||
select a reconciling item EFT depositsDeposits in transitReconciled cash balance per booksCheque No. 373 errorBank service chargesOutstanding chequesCash balance per books | enter a dollar amount | ||
select a reconciling item Cash balance per booksCheque No. 373 errorOutstanding chequesEFT depositsReconciled cash balance per booksBank service chargesDeposits in transit | enter a dollar amount | ||
enter a subtotal of the three previous amounts | |||
select between addition and deduction AddLess: select a reconciling item Bank service chargesDeposits in transitEFT depositsOutstanding chequesCheque No. 373 errorReconciled cash balance per booksCash balance per books | enter a dollar amount | ||
select a closing name for section two Bank service chargesReconciled cash balance per booksOutstanding chequesDeposits in transitEFT depositsCash balance per booksCheque No. 373 error | $enter a total amount for section two |
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