Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

The following information was included in the bank reconciliation for Reason Co. for July: Checks & charges recorded by bank in July, including a July

The following information was included in the bank reconciliation for Reason Co. for July:

Checks & charges recorded by bank in July, including a July service charge of P2,800

image text in transcribedimage text in transcribed
D Question 42 2 pts The following information was included in the bank reconciliation for Reason Co. for July: Checks & charges recorded by bank in July, including a July service charge of P2,800 1,232,600 Service charge made by bank in June and recorded in books in July 1.200 Total credits to cash in all journals in July 1.222,000 Customer's NSF check returned as a bank charge in July (no entry 6,000 made in books) Customer's NSF check returned in June, recorded by the company 15.000 in JulyCustomer's NSF check returned in June, recorded by the company in July 15,000 Outstanding checks in July 31 300,000 Checks issued in July for P20,000 recorded by the company as 2,000 Erroneous bank charge in July 20,000 Erroneous bank credit in June corrected in July 30,000 Erroneous book receipt in June corrected in July 5,000 Assume all other reconciling items are listed above, what were the total outstanding checks at the end of June

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Advanced Accounting

Authors: Joe Ben Hoyle, Thomas Schaefer And Timothy Doupnik

15th Edition

1264798482, 9781264798483

Students also viewed these Accounting questions