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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Think about and reflect upon particular ways that religion could add to one or more of...

Accounting
1.2K views

Select one area of risk related to auditing operating systems and networks: Describe the threats associated...

Biology
1.2K views

What is the effect of overexpressing Bcl2 in an animal cell? ("Overexpressing" means the cellproduces...

Physics
1.2K views

13 An electrostatic field line leaves at an an gle a from point charge q...

Physics
1.2K views

Two charged objects have an attractive force of 0 0929 N If the distance separating...

Accounting
1.2K views

During 2023, Rick and his wife, Sara, had the following items of income and expense...

Accounting
1.2K views

Prepare a Trial balance as at 31 December 2015, with the following accounts balances. (10...

Accounting
1.2K views

Hua Xin Services offered an incentive stock option plan to its employees. On January 1,...

Accounting
1.2K views

Watermelon Inc., a company that adheres to IFRS in its accounting and reporting practice, provides...

Accounting
1.2K views

Can anybody please explain to be about this problem and how the answer is $140,000....

Accounting
1.2K views

On March 31, Pina Colada Corporation showed a cash balance on their books of $13,800....

Finance
1.2K views

You are in desperate need of cash and turn to your uncle, who has offered...