At the end of the month of July you close the books of your company...
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Accounting
At the end of the month of July you close the books of your company and received the bank statement. You are ready to start with the Adjusting journal entries and realized that a bank reconciliation must be performed.
First you collect the data from June 30th reconciliation as follows:
Balance per Bank $ 10,000 add: Deposits in Transit $ 1,800 deduct: Outstanding Cheques $ (2,200 ) Balance per Books $ 9,600
Second you close your update your Cash and bank account with all transactions recorded before AJE and you have:
Balance July 31 $ 12,000 Deposits $ 7,300 Cheques $ 4,800
Third you look at the bank statement provided by your bank and you see the following:
Balance July 31 $ 12,430 Deposits $ 6,000 Cheques $ 4,000 Note collected $ 1,000 Bank service charge $ 20 NSF cheque $ 150 Interest received $ 200 Autowithdrawals $ 500
What is the amount of deposits made in July?
Multiple Choice - $7,300
- $4,200
- $1,800
- $6,000
- None of the other alternatives are correct
At the end of the month of July you close the books of your company and received the bank statement. You are ready to start with the Adjusting journal entries and realized that a bank reconciliation must be performed.
First you collect the data from June 30th reconciliation as follows:
| Balance per Bank | $ | 10,000 | |
| add: Deposits in Transit | $ | 1,800 | |
| deduct: Outstanding Cheques | $ | (2,200 | ) |
| Balance per Books | $ | 9,600 | |
Second you close your update your Cash and bank account with all transactions recorded before AJE and you have:
| Balance July 31 | $ | 12,000 |
| Deposits | $ | 7,300 |
| Cheques | $ | 4,800 |
Third you look at the bank statement provided by your bank and you see the following:
| Balance July 31 | $ | 12,430 |
| Deposits | $ | 6,000 |
| Cheques | $ | 4,000 |
| Note collected | $ | 1,000 |
| Bank service charge | $ | 20 |
| NSF cheque | $ | 150 |
| Interest received | $ | 200 |
| Autowithdrawals | $ | 500 |
What is the amount of deposits made in July?
Multiple Choice
- $7,300
- $4,200
- $1,800
- $6,000
- None of the other alternatives are correct
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