pls answer for me CoursHeroTranscribedText: Wright Company's cash account shows a $31,100 debit balance...

90.2K

Verified Solution

Question

Accounting

pls answer for me

image
CoursHeroTranscribedText: Wright Company's cash account shows a $31,100 debit balance and its bank statement shows $29,400 on deposit at the close of business on May 31- a. The May 31 bank statement lists $280 in bank service charges; the company has not yet recorded the cost ofthese services. b. Outstanding checks as of May 31 total $7,400. 1:. May 31 cash receipts of $8,000 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement. d. In reviewing the bank statement, a $580 check written by Smith Company was mistakenly drawn against Wright's account. a. The bank statement shows a $240 NSF check from a customer; the company has not yet recorded this NSF check- Prepare its bank reconciliation using the above information. Book balance Add: Bank statement balance Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance

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