Solution-Prepare bank reconciliation

Prepare bank reconciliation - worthy tours

Reference no: EM13546215

The following information pertains to Worthy Tours:

1. Cash balance per bank, July 31, $7,263.

2. July bank service charge not recorded by the depositor $28.

3. Cash balance per books, July 31, $7,284.

4. Deposits in transit, July 31, $1,500.

5. Bank collected $800 note for Worthy in July, plus interest $36, less collection fee $20. The collection has not been recorded by Worthy, and no interest has been accrued.

6. Outstanding checks, July 31, $691.

Instructions

(a) Prepare bank reconciliation at July 31.

(b) Journalize the adjusting entries at July 31 on the books of Worthy Tours.

Reference no: EM13546215

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Prepare bank reconciliation - worthy tours

Reference no: EM13546215

Reference no: EM13546215

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