Question
Using the following information, prepare a bank reconciliation for Crane Company for July 31, 2022. a. The bank statement balance is $3,560. b. The cash
Using the following information, prepare a bank reconciliation for Crane Company for July 31, 2022.
a. | The bank statement balance is $3,560. | ||
b. | The cash account balance is $4,060. | ||
c. | Outstanding checks totaled $1,370. | ||
d. | Deposits in transit are $1,800. | ||
e. | The bank service charge is $52. | ||
f. | A check for $86 for supplies was recorded as $68 in the ledger. |
Crane Company Bank Reconciliation July 31, 2022For the Month Ended July 31, 2022For the Year Ended July 31, 2022 | |||||
---|---|---|---|---|---|
select an opening name for section one Federal Tax DepositsDeposit in TransitOutstanding ChecksBank Service ChargeAdjusted Cash Balance Per BooksCheck for Supplies ErrorAdjusted Cash Balance Per BankCash Balance Per Bank | $enter a dollar amount | ||||
select between addition and deduction LessAdd: select a reconciling item Check for Supplies ErrorFederal Tax DepositsAdjusted Cash Balance Per BankBank Service ChargeCash Balance Per BankDeposit in TransitAdjusted Cash Balance Per BooksOutstanding Checks | enter a dollar amount | ||||
enter a subtotal of the two previous amounts | |||||
select between addition and deduction LessAdd: select a reconciling item Deposit in TransitAdjusted Cash Balance Per BankFederal Tax DepositsCash Balance Per BankOutstanding ChecksAdjusted Cash Balance Per BooksBank Service ChargeCheck for Supplies Error | enter a dollar amount | ||||
select a closing name for section one Bank Service ChargeCash Balance Per BankDeposit in TransitFederal Tax DepositsOutstanding ChecksAdjusted Cash Balance Per BooksAdjusted Cash Balance Per BankCheck for Supplies Error | $enter a total amount for the first section | ||||
select an opening name for section two Deposit in TransitAdjusted Cash Balance Per BankOutstanding ChecksBank Service ChargeFederal Tax DepositsAdjusted Cash Balance Per BooksCheck for Supplies ErrorCash Balance Per Books | $enter a dollar amount | ||||
select between addition and deduction AddLess: | |||||
select a reconciling item Cash Balance Per BooksBank Service ChargeDeposit in TransitAdjusted Cash Balance Per BooksAdjusted Cash Balance Per BankCheck for Supplies ErrorOutstanding ChecksFederal Tax Deposits | $enter a dollar amount | ||||
select a reconciling item Adjusted Cash Balance Per BooksCheck for Supplies ErrorAdjusted Cash Balance Per BankFederal Tax DepositsDeposit in TransitOutstanding ChecksCash Balance Per BooksBank Service Charge | enter a dollar amount | ||||
enter a subtotal of the two previous amounts | |||||
select a closing name for section two Federal Tax DepositsOutstanding ChecksDeposit in TransitAdjusted Cash Balance Per BankCash Balance Per BooksBank Service ChargeAdjusted Cash Balance Per BooksCheck for Supplies Error | $enter a total amount for the second section |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started