Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is for Sunland's Burger Company: 1. Cash balance per bank, July 31,$8,247. 2. July bank service charge not recorded by the depositor,

image text in transcribed

The following information is for Sunland's Burger Company: 1. Cash balance per bank, July 31,$8,247. 2. July bank service charge not recorded by the depositor, $35. 3. The bank erroneously charged another company's $780 cheque against Sunland's Burger's account. 4. Cash balance per books, July 31,$9,838. 5. The bank charged Sunland's Burger's account $390 for a customer's NSF cheque. This included a $7 service charge. The company policy is to pass on all NSF charges to the customer. 6. Deposits in transit, July 31,$2,460. 7. Sunland's Burger recorded a cash receipt for a cash sale from a customer as $32. The bank correctly recorded it as $23. 8. The bank collected a $1,400 note for Sunland's Burger in July, plus interest of $40, less a fee of $22. The collection has not been recorded by Sunland's Burger and no interest has been accrued. 9. Outstanding cheques, July 31,$665

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing

Authors: Alan H. Millichamp

8th Edition

082645500X, 9780826455000

More Books

Students also viewed these Accounting questions

Question

Write short notes on Interviews.

Answered: 1 week ago