Solution-Prepare the bank reconciliation as of July

Prepare the bank reconciliation as of July

Assignment Help Accounting Basics

Reference no: EM132891566

Question - On July 31, 2022, Blue Spruce Company had a cash balance per books of $6,340.00. The statement from Dakota State Bank on that date showed a balance of $7,890.80. A comparison of the bank statement with the Cash account revealed the following facts.

1. The bank service charge for July was $21.00.

2. The bank collected $1,720.00 for Blue Spruce through electronic funds transfer.

3. The July 31 cash receipts of $1,397.30 were not included in the bank statement for July. These receipts were deposited by the company in a night deposit vault on July 31.

4. Company check No. 2480 issued to L. Taylor, a creditor, for $374.00 that cleared the bank in July was incorrectly recorded as a cash payment on July 10 for $347.00.

5. Checks outstanding on July 31 totaled $2,051.10.6.On July 31, the bank statement showed an NSF charge of $775.00 for a check received by the company from W. Krueger, a customer, on account.

Required - Prepare the bank reconciliation as of July 31?

Reference no: EM132891566

Questions Cloud

Is financial vice president acting improperly or immorally : Who might be affected by the decision against early implementation? Is the financial vice president acting improperly or immorally

What amount of equity method income would Matthew recognize : What amount of equity method income would Matthew recognize in 2021 from its ownership interest in Lindman

Explain evidence that used to claim child care expenses : Question - Explain any evidence that can be used to claim child care expenses and donations for Canadian Taxation purposes

Prepare the stockholders equity section as of May : Each share of preference share was converted into 4 shares of ordinary share. Prepare the stockholders' equity section as of May 31, 2022

Prepare the bank reconciliation as of July : The bank collected $1,720.00 for Blue Spruce through electronic funds transfer. Prepare the bank reconciliation as of July

Prepare entries for CPL to record the sale : The lease has a 15-year term and required payments on 31 December of each year. Prepare entries for CPL to record the sale

How much consumer surplus do consumers receive : Suppose the supply of soda is Qs = 2 + 5P where Qs is the amount of soda that producers will supply. How much consumer surplus do consumers receive soda price

Calculating the present value of the buy and lease option : Determine which option Kiddy should choose by calculating the present value of the buy option and lease options

How many binders did she inspect : Abbey is paid $11.00 per hour and she makes $0.25 for every binder she inspects. If her weekly paycheck for 40 hours was $850, how many binders did she inspect

User Account

All Pages

Prepare the bank reconciliation as of July

Reference no: EM132891566

Reference no: EM132891566

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT