need help with this please eMysoxACCTI010 L0 xCXC Nolan Company Dei X 3A%2F%2Fco
ID: 2558706 • Letter: N
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need help with this please
eMysoxACCTI010 L0 xCXC Nolan Company Dei X 3A%2F%2Fconnect m heducation.com%2Fpaamweb %2Findex.html%2 https://newconnect.mheducation.com flow connect.html?sRegstrue&returnUrl;: https Help Save& Exit Saved Check my a. On July 31, the company's Cash account has a $27497 debit balance, but its July bank statement shows a $27,233 cash balance. b. Check No.3031 for $1.482 and Check No. 3040 for $558 were outstanding on the June 30 bank reconciliation Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also. Check No. 3065 for $382 and Check No. 3069 for $2.281, both written in July are not among the canceled checks on the July 31 statement Check No. 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the of 2 c. In comparin g the canceled checks on the bank statement with the entries in the accounting records, it is found that accounting records as $1,250 d. The July bank statement shows the bank collected $8,000 cash on a noninterest-bearing note for Branch, deducted a $45 collection expense, and credited the remainder to its account. Branch had not recorded this event before receiving the statement. received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF because no previous notification had been received appear on the July 31 bank statement. e. The bank statement shows an $805 charge for a $795 NSF check plus a $10 NSF charge. The check had been Ask t. The Juy statement shows a sa5 bank service charge. It has not yet been recorded in miscellaneous expenses g. Branch's July 31 daily cash receipts of $11,514 were placed in the bank's night depository on that date but do not Problem 8-4A Part 1 Required: 1. Prepare the bank reconciliation for this company as of July 31, 2017 BRANCH COMPANY Bank Reconciliation July 31, 2017 Book balance Bank statement balance Add Add Deduct Deduct K Prev 8 9 of 9 Next>Explanation / Answer
Bank Reconciliation Bank Statement balance 27,233 Book Balance 27,497 Add Add: Deposit of July 31 11,514 Proceeds of note less collection charge 7955 11,514 7,955 38,747 35,452 Deduct: Deduct: check no 3031 1,482 NSF Check 805 check no 3065 382 Service Charge 25 check no 3069 2,281 Error (Check 3056) 20 4,145 850 Adjusted bank balance 34,602 34,602
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