Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. roper electronics received its bank statement for

Roper Electronics received its bank statement for the month of August with an ending balance...

70.2K

Verified Solution

Question

Accounting

image
image
Roper Electronics received its bank statement for the month of August with an ending balance of $11,740, Roper determined that check $613 for $155 and check $501 for $420 were both outstanding. Also, a $6,900 deposit for August 30 was in transit as of the end of the month. Northern Regional Bank ako collected a $5,000 note recelvable on August 1 that was issued March 1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the cokection service. The bank statement reveals a bank service charge of $20. A customer check for $68 was returned with the bank statement marked "NSF, "The ending balance of the Rloper cash account is 512,938 . a. Prepare a bank/account reconciliation. b. Prepare any necessary journal entries for the reconciliation. Record the entry to increase cash first. If an amount b c. If a balance sheet were prepared for Roper Electronics on August 31, what amount should be reported for cash? X

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