Quiet Study Area https://edugenwileyplus.com/edugenstudent/maint.ub Kimmel, Acco

Question

Quiet Study Area https://edugenwileyplus.com/edugenstudent/maint.ub Kimmel, Accounting, 6e PRÍNCIPLES OF FINANCIAL ACCOUNTING (ACCT 287) Assignment Gradebook ORION Downloadable eTextbook ation pertains to Carla Vista Company. 1. Cash balance per bank, July 31, $8,288. 2. July bank service charge not recorded by the depositor $59. 3. Cash balance per books, July 31, $8,324. 4 Deposits in transit, July 31, $3,660. 5. $2,976 collected for Carla Vista Company in July by the bank through electrornc funds transfer. The collection has not been recorded by Carla Vista Company 6. Outstanding checks, July 31, $707 Prepare a bank reconcililation at July 31, 2017. (List items that increase balance as per bank & books first CARLA VISTA COMPANY Bank Reconciliation

Explanation / Answer

Answer =1) Carla Vista Company Bank Reconciliation Statement for July 31, Particulars Amount Amount Balance as per Book (A) $8,324.00 Add: Addition as per cash Book Outstanding Cheques $707.00 Deposit not accounted $2,976.00 Total of Addition (B) $3,683.00 Total (C = A + B) $12,007.00 Less: Deduction as per cash Book Deposit in transit $3,660.00 Service charges not taken in the books $59.00 NSF Cheques D = Total of Deuctible $3,719.00 Balance as per bank Statement (C+D) $8,288.00 Answer =2) JOURNAL ENTRIES Date Account Title and explanation Debit Credit July, 31 Cash $2,976.00       To Account Receivable Account $2,976.00 (To record electronic Fund transfer recived from bank) July, 31 Bank service Charges Expenses $59.00      To Cash $59.00 (To Recrd bank service Charges)

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