Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. preparing a bank reconciliation statement: •the

Preparing a bank Reconciliation Statement: •The July 31 bank statement for Parkview Company indicated a cash balance...

90.2K

Verified Solution

Question

Accounting

Preparing a bank Reconciliation Statement:

•The July 31 bank statement for Parkview Company indicated acash balance of $5,000.17.

•The cash ledger account on that date shows a balance of$4,262.83.

•Four outstanding checks totaled $717.75.

•A $410.90 deposit made after banking hours on July 31 doesnot appear in the bank statement.

•On July 30, the bank returned J.B. Ball’s NSF check for$50.25, received as payment of an account receivable.

•The bank statement showed $24.74 interest earned on the bankbalance for the month of July. The bank collected a non-interestbearing note on July 22 for $500 and charged a $5 collectionfee.

•Check 893 for telephone expenses cleared the bank for $85 butwas erroneously recorded in our books as $58.

•The bank charged a July service charge of $12.00.

Answer & Explanation Solved by verified expert
4.4 Ratings (912 Votes)
    See Answer
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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

An LCR circuit as shown in the figure is connected to a voltage source V...

Physics
Q

1 This is a 2 Find x and y X y Special Ri

Geometry
Q

Find the first six partial sums S1 S2 S3 S4 S5 S6 of the sequence...

Basic Math
Q

20 In 2008 Yolanda paid 5 875 in Social Security tax If the Social Security...

Basic Math
Q

Select the correct choices that complete the sentence below If two functions f and g...

Calculus
Q

Data table The unadjusted ral balancie of Telegrophic Link and adotional infomation at November 30,...

Accounting
Q

A cash-flow budget uses the same format as a cash-flow statement. It is prepared on...

Accounting
Q

High Country, Incorporated, produces and sells many recreational products. The company just opened a new...

Accounting
Q

The manufacture of polysyllabic acid is a competitive industry. Most plants have an annual output...

Accounting
Q

Requirements:(1)Journalize the above (a) to (d) (2)Prepare the statement of conprehensive income and statement of...

Accounting
Q

Instruction On August 1, Year 1, Ant Company sold Bee Company $1,500,000 of 10 year,...

Accounting
Q

Which of the following is a true statement about the integration of financial statements? a.The...

Accounting