https.//edugen wileyplus.com/edugen/student/mainfr.uni Kimmel, Accounting, Ge Gr
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https.//edugen wileyplus.com/edugen/student/mainfr.uni Kimmel, Accounting, Ge Gradebook OR1ON blem 7-3A (Part Level Submissilon) uly 31, 2017, Cullumber Company had a cash balance per books of $6.305.00. The statement from Dakota tate Bank on that date showed a balance of 57,855.0. a comp The banik service dharge for July was $16.00 service charge for July was $16.00 colected $1,685.00 for Cullumber Company ough olectronk ,unds trander ndy 31 f$1,367.30 were not included in the bark deposits for uly. These recelgts were deposited by the company in a night deponit vault on hdy 3 Commpany Checks outstanding on ). dheck No. 2480 issued to L. Taylo,a credito for $394.00 that dleared the bank i n July was incorrectly ered in the cash payments joumal on by td 31 ttaled 52,034.10. July 3, the bark statement showed an NSF charge of $740.00 for a c check received by the comany Your wer is corectExplanation / Answer
Req 1 BANK RECCONCILIATION STATEMENT Balance as per bank statement 7855.8 Adjustment: Add: Deposits in transit 1367.3 9223.1 Less: Checks outstanding -2034.1 Adjusted Balance as per Bank Satement 7189 Balance as per Books 6305 Adjustment: Add: EFT transfer not recorded 1685 7990 Less: Service charges not recorded -16 Less: NSF charges not recorded -740 Less: Error in recording the payment to creditor -45 Adjusted balancec as per books 7189 Req 2: Date Accounts Title and explanations Debit $ Credit $ 31-Jul Cash Account Dr. 1685 Accounts recievable 1685 (for transfer rececived from customer) 31-Jul Accounts Recievable Account Dr 740 Cash account 740 (for NSF chek of customer) 31-Jul Accounts payable Dr. 45 Cash account 45 (for eroor in recording the paymentt to creditor) 31-Jul Service charges expense Account Dr. 16 Cash Account 16 (for service charges)
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