Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information pertains to Sunland Corporation. 1. Balance per bank, July 31, $8,508. 2. July bank service charge not yet recorded by Sunland, $25.

The following information pertains to Sunland Corporation. 1. Balance per bank, July 31, $8,508. 2. July bank service charge not yet recorded by Sunland, $25. 3. Balance per books, July 31, $8,886. 4. Deposits in transit, July 31, $2,528. 5. Electronic collection on account (EFT) from a customer, $1,687 not yet recorded by Sunland. 6. Outstanding cheques, July 31, $888. 7. Returned cheque from the deposit of a collection on account, $360, due to nonsufficient funds. Related bank service charge, $40. The charges will be added to the customers account.

image text in transcribedimage text in transcribed

1. 2. 3. The following information pertains to Sunland Corporation Balance per bank, July 31, $8,508. July bank service charge not yet recorded by Sunland, $25. Balance per books, July 31,$8.886. Deposits in transit, July 31, $2,528. Electronic collection on account (EFT) from a customer. 51,687 not yet recorded by Sunland. Outstanding cheques July 31, $888. Returned cheque from the deposit of a collection on account, $360, due to nonsufficient funds. Related bank service charge $40. The charges will be added to the customer's account. 5. 6. 7. (a) Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.) SUNLAND CORPORATION Bank Reconciliation $

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

Step: 3

blur-text-image

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

Managerial Accounting And Analysis In Multinational Enterprises

Authors: H. Peter Holzer, Hanns Martin W. Schoenfeld

1st Edition

0899250874, 978-0899250878

More Books

Students also viewed these Accounting questions