50.1K

Verified Solution

Link Copied!

two part question. help s

al entries necessary to make the compa required for a transaction/event, select ntry worksheet Journal entry worksheet Record the adjusting entry required, if any, related to bank service charges. Note: Enter debits before credits. Journal entry worksheet Record the adjusting entry required, if any, for the collection of the note by bank for Branch. Note: Enter debits before credits. Journal entry worksheet Record the adjusting entry required, if any, related to the NSF check. Note: Enter debits before credits. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the adjusting entry required, if any, related to the July 31 cash balance, Winth: Ereer denita before credits. Required: 1. Prepare the bank reconciliation for this compa Required information [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31 , the company's Cash account has a $27,497 debit balance, but its July bank statement shows a $27,233 cash balance. b. Check Number 3031 for $1,482, Check Number 3065 for $382, and Check Number 3069 for $2,281 are outstanding checks as of July 31 . c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneousfy entered in the accounting records as $1,250. d. The July bank statement shows the bank collected $7,955 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. 1. The July statement shows a $25 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been recelved. 9. Branch's July 31 daily cash receipts of $11,514 were placed in the bank's night depository on that date but do not appear on the July 3 t bank statement. Required: 1. Prepare the bank reconciliation for this company as of July 31 al entries necessary to make the compar required for a transaction/event, select ntry worksheet Journal entry worksheet Record the adjusting entry required, if any, related to the July 31 deposit. Note: Enter debits before credits. al entries necessary to make the company's required for a transaction/event, select "No j ntry worksheet nal entries necessary to make the company's bo 5 required for a transaction/event, select "No jou entry worksheet appear on the July 31 bank statement. Required: 1. Prepare the bank reconciliation for this company as of July 31. quired: Prepare the bank reconciliation for this I entries necessary to make the compan equired for a transaction/event, select " ntry worksheet Journal entry worksheet 6 7 Record the adjusting entry required, if any, related to Check Number 3056. Note: Enter debits before credits. entry worksheet Journal entry worksheet 4 5 6 7 Record the adjusting entry required, if any, related to the outstanding checks. Note: Enter debits before credits

Answer & Explanation Solved by verified expert

See Answer