Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the following information, prepare a bank reconciliation for Ivanhoe Company for July 31, 2022. a. The bank statement balance is $3,760. b. The cash

Using the following information, prepare a bank reconciliation for Ivanhoe Company for July 31, 2022.

a. The bank statement balance is $3,760.
b. The cash account balance is $4,200.
c. Outstanding checks totaled $1,450.
d. Deposits in transit are $1,780.
e. The bank service charge is $83.
f. A check for $85 for supplies was recorded as $58 in the ledger.

Ivanhoe Company Bank Reconciliation

image text in transcribed For the Year Ended July 31, 2022For the Month Ended July 31, 2022July 31, 2022

select an opening name for section one

image text in transcribed Outstanding ChecksCheck for Supplies ErrorBank Service ChargeAdjusted Cash Balance Per BankAdjusted Cash Balance Per BooksCash Balance Per BankFederal Tax DepositsDeposit in Transit

$enter a dollar amount

image text in transcribed

select between addition and deduction

image text in transcribed LessAdd

: select a reconciling item

image text in transcribed Adjusted Cash Balance Per BooksOutstanding ChecksDeposit in TransitCheck for Supplies ErrorBank Service ChargeFederal Tax DepositsAdjusted Cash Balance Per BankCash Balance Per Bank

enter a dollar amount

image text in transcribed

enter a subtotal of the two previous amounts

image text in transcribed

select between addition and deduction

image text in transcribed AddLess

: select a reconciling item

image text in transcribed Check for Supplies ErrorAdjusted Cash Balance Per BankOutstanding ChecksDeposit in TransitCash Balance Per BankBank Service ChargeAdjusted Cash Balance Per BooksFederal Tax Deposits

enter a dollar amount

image text in transcribed

select a closing name for section one

image text in transcribed Federal Tax DepositsAdjusted Cash Balance Per BooksCheck for Supplies ErrorAdjusted Cash Balance Per BankCash Balance Per BankBank Service ChargeDeposit in TransitOutstanding Checks

$enter a total amount for the first section

image text in transcribed

select an opening name for section two

image text in transcribed Federal Tax DepositsDeposit in TransitCash Balance Per BooksAdjusted Cash Balance Per BankOutstanding ChecksCheck for Supplies ErrorAdjusted Cash Balance Per BooksBank Service Charge

$enter a dollar amount

image text in transcribed

select between addition and deduction

image text in transcribed LessAdd

:
select a reconciling item

image text in transcribed Adjusted Cash Balance Per Books Adjusted Cash Balance Per Bank Check for Supplies Error Cash Balance Per Books Bank Service Charge Deposit in Transit Federal Tax Deposits Outstanding Checks

$enter a dollar amount

image text in transcribed

select a reconciling item

image text in transcribed Adjusted Cash Balance Per Books Check for Supplies Error Federal Tax Deposits Deposit in Transit Outstanding Checks Bank Service Charge Cash Balance Per Books Adjusted Cash Balance Per Bank

enter a dollar amount

image text in transcribed

enter a subtotal of the two previous amounts

image text in transcribed

select a closing name for section two

image text in transcribed Deposit in TransitAdjusted Cash Balance Per BooksOutstanding ChecksAdjusted Cash Balance Per BankCash Balance Per BooksCheck for Supplies ErrorBank Service ChargeFederal Tax Deposits

$enter a total amount for the second section

image text in transcribed

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

GMP Audit Trainer Good Manufacturing Practices Made Easy

Authors: Mr Brendan Cooper

1st Edition

1548711934, 978-1548711931

More Books

Students also viewed these Accounting questions