Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ??? p7-3a on july 31, 2017, keeds company had a c

??? P7-3A On July 31, 2017, Keeds Company had a cash balance per books...

60.1K

Verified Solution

Question

Accounting

image

image

???

P7-3A On July 31, 2017, Keeds Company had a cash balance per books of s6,140. The statement from Dakota State Bank on that date showed a balance of $7,690.80. A compari- son of the bank statement with the Cash account revealed the following facts. The bank service charge for July was $25 2. The bank collected $1,520 for Keeds Company through electronic funds transfer 3. The July 31 receipts of $1,193.30 were not included in the bank deposits for July. 1. These receipts were deposited by the company in a night deposit vault on July 31 4. Company check No. 2480 issued to L. Taylor, a creditor, for $384 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $348. 5. Checks outstanding on July 31 totaled $1,860.10 6. On July 31, the bank statement showed an NSF charge of $575 for a check received by the company from W. Krueger, a customer, on account

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students