The following information is available to reconcile Branch Company's book balance of cash with its...
90.2K
Verified Solution
Question
Accounting
The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July a On July the company's Cash account has a $ debit balance, but its July bank statement shows a $ cash balance. b Check Number for $ Check Number for $ and Check Number for $ are outstanding checks as of July c Check Number for July rent expense was correctly written and drawn for $ but was erroneously entered in the accounting records as $ d The July bank statement shows the bank collected $ cash on a note for Branch. Branch had not recorded this event before receiving the statement. e The bank statement shows an $ NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF f The July statement shows a $ bank'service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. g Branch's July daily cash receipts of $ were placed in the bank's night depository on that date but do not appear on the July bank statement. Required: Prepare the bank reconciliation for this company as of July tableBRANCH COMPANYBank ReconciliationJuly Bank statement balance,,Book balance,AddAdd:Deposit of July :DeductDeductNSF check,,Check Number Service charge,:.,Check Number Check Number Adjusted bank balance,$Adjusted book balance,$
The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July
a On July the company's Cash account has a $ debit balance, but its July bank statement shows a $ cash balance.
b Check Number for $ Check Number for $ and Check Number for $ are outstanding checks as of July
c Check Number for July rent expense was correctly written and drawn for $ but was erroneously entered in the accounting records as $
d The July bank statement shows the bank collected $ cash on a note for Branch. Branch had not recorded this event before receiving the statement.
e The bank statement shows an $ NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF
f The July statement shows a $ bank'service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received.
g Branch's July daily cash receipts of $ were placed in the bank's night depository on that date but do not appear on the July bank statement.
Required:
Prepare the bank reconciliation for this company as of July
tableBRANCH COMPANYBank ReconciliationJuly Bank statement balance,,Book balance,AddAdd:Deposit of July :DeductDeductNSF check,,Check Number Service charge,:.,Check Number Check Number Adjusted bank balance,$Adjusted book balance,$
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.