915 Harrison Company maintains a checking account at the First National City Ban

Question

915 Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2013 bank statement included the following information: Balance, July 1, 2013 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account 56,458 184,500 (192,190) (60 (1,400) (includes $320 in interest (3.320 1 Balance, July 31, 2013 43,988 The company's general ledger account had a balance of $45,358 at the end of July. Deposits outstanding totaled $6,500 and all checks written by the company were processed by the bank except 42.34?

Explanation / Answer

Bank reconciliation Bank balance 43988 Add Deposit in transit 6500 Error in disbursement (300-30) 270 6770 Less Outstanding checks 8380 8380 Adjusted bank balance 42378 Cash balance 45358 Add Directly deposited in bank 1800 Less Service fees 60 Loan payment 3320 NSF check 1400 4780 Adjusted cash balance 42378

Related Questions

Navigate

• Browse (All)
• Browse 9
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.