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
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The statement included a debit memo of $45.00 for the printing
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Cash sales of $833.00 on May 12 were deposited in the bank. The
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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
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When the accountant of Pharoah
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1.
The statement included debit memos of $54 for the printing of
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Cash sales of $528 on October 12 were deposited in the bank.
The journal entry to record the cash receipt and...
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The bank statement for Adcock Company indicates a balance of
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1.
Deposit of $840, representing cash receipts of July 31, did not
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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...
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