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3. 8 pnts Using the following information, prepare a bank reconciliationfor Goug

ID: 2444410 • Letter: 3

Question

3.

8 pnts

Using the following information, prepare a bank reconciliationfor Gouge Company for July 31, 2005.

a.

The bank statement balance is $3,506.

b.

The cash account balance is $3,630

c.

Outstanding checks totaled $1,085.

d.

Deposits in transit are $1,170.

e.

The bank service charge is $30.

f.

A check for $98 for supplies was recorded as $89 in theledger.

3.

8 pnts

Using the following information, prepare a bank reconciliationfor Gouge Company for July 31, 2005.

a.

The bank statement balance is $3,506.

b.

The cash account balance is $3,630

c.

Outstanding checks totaled $1,085.

d.

Deposits in transit are $1,170.

e.

The bank service charge is $30.

f.

A check for $98 for supplies was recorded as $89 in theledger.

Explanation / Answer

                                          Gouge Company                                           Bank Reconciliation                                             July 31,2005 Balance perBank                                                      3,506 Add Deposit intransit                                                        1,170 Less Outstandingchecks                                                   (1,085) Adjusted Bank Balance , July 31,2005                        3,591 Balance perBooks                  3,630 Less Bank service charge             (30) Adjustment in ledger (98-89 =9)                                                                  (9) Adjusted Book Balance, July31,2005                        3,591

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