Question
In: Accounting
On July 31, 2017, Ivanhoe Company had a cash balance per books of $6,255.00. The statement...
On July 31, 2017, Ivanhoe Company had a cash balance per books of $6,255.00. The statement from Dakota State Bank on that date showed a balance of $7,805.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $22.00. 2. The bank collected $1,635.00 for Ivanhoe Company through electronic funds transfer. 3. The July 31 receipts of $1,311.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $374.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $347.00. 5. Checks outstanding on July 31 totaled $1,966.10. 6. On July 31, the bank statement showed an NSF charge of $690.00 for a check received by the company from W. Krueger, a customer, on account. Collapse question part (a) Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.)
Solutions
ekkarill92 answered 2 years agoRelated Solutions
On July 31, 2022, Pharoah Company had a cash balance per books of $6,320.00. The statement...
On July 31, 2022, Pharoah Company had a cash balance per books of $6,320.00. The statement from Dakota State Bank on that date showed a balance of $7.870.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $21.00. 2. The bank collected $1,700.00 from a customer for Pharoah Company through electronic funds transfer. 3. The July 31 receipts of $1,377.30 were not included in the bank deposits for July. These...
On July 31, 2020, Crane Company had a cash balance per books of $6,190.00. The statement...
On July 31, 2020, Crane Company had a cash balance per books of
$6,190.00. The statement from Dakota State Bank on that date showed
a balance of $7,700.00. A comparison of the bank statement with the
Cash account revealed the following facts.
1.
The bank service charge for July was $25.
2.
The bank collected $1,500 for Keeds Company through electronic
funds transfer.
3.
The July 31 receipts of $1,200.00 were not included in the bank
deposits for July. These...
On July 31, 2020, Sandhill Co. had a cash balance per books of $6,340.00. The statement...
On July 31, 2020, Sandhill Co. had a cash balance per books of
$6,340.00. The statement from Dakota State Bank on that date showed
a balance of $7,890.80. A comparison of the bank statement with the
Cash account revealed the following facts.
1.
The bank service charge for July
was $21.00.
2.
The bank collected $1,720 for
Sandhill Co. through electronic funds transfer.
3.
The July 31 receipts of $1,397.30
were not included in the bank deposits for July. These...
On May-31, 2017 James Logan Company had a cash balance per books of $ 6,051 and...
On May-31, 2017 James Logan Company had a cash balance per books
of $ 6,051 and The bank statement from Farmer’s community bank on
that date showed a balance of $ 6,404. A comparison of the
statement with the cash account revealed the following facts
i.The statement included a debit of $ 40 for the printing of
check books, not recorded in company’s book
ii.A Collection in respect of account receivable amounting Rs
836 was recorded by company as $...
On May 31, 2017, Reber Company had a cash balance per books of $7,001.50. The bank...
On May 31, 2017, Reber Company had a cash balance per books of
$7,001.50. The bank statement from New York State Bank on that date
showed a balance of $6,624.60. A comparison of the statement with
the cash account revealed the following facts. 1. The statement
included a debit memo of $49.00 for the printing of additional
company checks. 2. Cash sales of $731.00 on May 12 were deposited
in the bank. The cash receipts journal entry and the deposit...
On May 31, 2017, Reber Company had a cash balance per books of $7,071.50. The bank...
On May 31, 2017, Reber Company had a cash balance per books of
$7,071.50. The bank statement from New York State Bank on that date
showed a balance of $6,694.60. A comparison of the statement with
the cash account revealed the following facts.
1.
The statement included a debit memo of $45.00 for the printing
of additional company checks.
2.
Cash sales of $833.00 on May 12 were deposited in the bank. The
cash receipts journal entry and the deposit...
he following information is for Ivanhoe Company: 1. Cash balance per bank, July 31, $7,658. 2....
he following information is for Ivanhoe Company: 1. Cash balance
per bank, July 31, $7,658. 2. July bank service charge not recorded
by the depositor, $22. 3. The bank erroneously charged another
company’s $730 cheque against Ivanhoe’s account. 4. Cash balance
per books, July 31, $9,135. 5. The bank charged Ivanhoe’s account
$360 for a customer’s NSF cheque. 6. Deposits in transit, July 31,
$2,290. 7. Ivanhoe recorded a cash receipt for a cash sale from a
customer as $32....
On October 31, 2021, Blossom Company had a cash balance per books of $8,967. The bank...
On October 31, 2021, Blossom Company had a cash balance per
books of $8,967. The bank statement on that date showed a balance
of $10,150. A comparison of the statement with the Cash account
revealed the following:
When the accountant of Pharoah
Company prepared the bank reconciliation on May 31, 2021, there
were three outstanding cheques: #690 for $306, #693 for $176, and
#694 for $266. There were no deposits in transit as at May 31,
2021. The bank balance...
On October 31, 2021, Cullumber Company had a cash balance per books of $8,967. The bank...
On October 31, 2021, Cullumber Company had a cash balance per
books of $8,967. The bank statement on that date showed a balance
of $10,174. A comparison of the statement with the Cash account
revealed the following:
1.
The statement included debit memos of $54 for the printing of
additional company cheques and $49 for bank service charges.
2.
Cash sales of $528 on October 12 were deposited in the bank.
The journal entry to record the cash receipt and...
The bank statement for Adcock Company indicates a balance of $830 on July 31. The cash...
The bank statement for Adcock Company indicates a balance of
$830 on July 31. The cash balance per books had a balance of $390
on this date. The following information pertains to the bank
transactions for the company.
1.
Deposit of $840, representing cash receipts of July 31, did not
appear on the bank statement.
2.
Outstanding checks totaled $390.
3.
Bank service charges for June amounted to $30.
4.
The bank collected a note receivable for the company for...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Discuss proactive and defensive marketing in context to the company position in the hypothetical market structure...
- Write a java code that could be used to show the simulation of a tornado. use...
- A Canadian company issues an 8-year term bond with face value of $1,000 and 6% coupon...
- 1. Consider the following nuclides: &
- In general, teams can be described three ways. Name and define each.
- JAVASCRIPT: Please create an array of student names and another array of student grades. - Create...
- Topic - Construction: Structural, loads, tension 1.) Explain why pure tension members are the most efficient...
ADVERTISEMENT