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The following information pertains to Cullumber Company. 1. Cash balance per bank, July 31, $7,988. 2. July bank service charge not recorded by the depositor

The following information pertains to Cullumber Company.

1. Cash balance per bank, July 31, $7,988.
2. July bank service charge not recorded by the depositor $53.
3. Cash balance per books, July 31, $8,024.
4. Deposits in transit, July 31, $3,360.
5. $2,676 collected for Cullumber Company in July by the bank through electronic funds transfer. The collection has not been recorded by Cullumber Company.
6. Outstanding checks, July 31, $701.

Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.)

CULLUMBER COMPANY Bank Reconciliation choose the accounting period For the Month Ended July 31, 2022- July 31, 2022 -For the Year Ended July 31, 2022

select an opening name for section one Deposits in transit-Adjusted cash balance per bank cash balance per bank statement bank service charge electronic funds transfer received outstanding checks

$enter a dollar amount

select between addition and deduction LessAdd: select a reconciling item Adjusted cash balance per bank outstanding checks electronic funds transfer received bank service charge cash balance per bank statement deposits in transit

enter a dollar amount

enter a subtotal of the two previous amounts

select between addition and deduction AddLess: select a reconciling item Bank service charge electronic funds transfer received outstanding checksDeposits in transitAdjusted cash balance per bank cash balance per bank statement

enter a dollar amount

select a closing name for section one Cash balance per bank statement deposits in transmit outstanding checksAdjusted cash balance per bank electronic funds transfer received bank service charge

$enter a total amount for section one

select an opening name for section two Bank service chargeAdjusted cash balance per books cash balance per books outstanding checks electronic funds transfer received deposits in transit

$enter a dollar amount

select between addition and deduction AddLess: select a reconciling item Outstanding checks electronic funds transfer received bank service chargeAdjusted cash balance per books cash balance per book deposits in transit

enter a dollar amount

enter a subtotal of the two previous amounts

select between addition and deduction AddLess: select a reconciling item Adjusted cash balance per books cash balance per book deposits in transmit outstanding checks electronic funds transfer received bank service charge

enter a dollar amount

select a closing name for section two Electronic funds transfer received outstanding checksDeposits in transit back service chargeAdjusted cash balance per books cash balance per books

$enter a total amount for section two

List of Accounts

Prepare a tabular analysis for the adjustments at July 31 on the books of Cullumber Company. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

Assets

=

Liabilities

+

Stockholders Equity

Cash

Accts. Rec.

+ = +

Rev.

-

Exp.

July 31

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an option Bank charges expense cash over and short miscellaneous expense sales revenue

31

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount select an option Sales revenueBank charges expenseMiscellaneous expenseCash over and short

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