The following information pertains to Mohammed Company. 1. Cash balance per bank, July (31, $ 7,463). 2.
Question:
The following information pertains to Mohammed Company.
1. Cash balance per bank, July \(31, \$ 7,463\).
2. July bank service charge not recorded by the depositor \(\$ 15\).
3. Cash balance per books, July \(31, \$ 7,190\).
4. Deposits in transit, July \(31, \$ 1,700\).
5. Note for \(\$ 1,200\) collected for Mohammed in July by the bank, plus interest \(\$ 36\) less fee \(\$ 20\). The collection has not been recorded by Mohammed, and no interest has been accrued.
6. Outstanding checks, July \(31, \$ 772\).
\section*{Instructions}
(a) Prepare a bank reconciliation at July 31.
(b) Journalize the adjusting entries at July 31 on the books of Mohammed Company.
Prepare bank reconciliation and adjusting entries.
(SO 7)
Step by Step Answer:
Financial Accounting
ISBN: 9780471169208
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso