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Prepare the bank reconciliation for rose company as of july

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Reference no: EM132946508

Problem 1: As the bookkeeper of Rose Company of Drumheller, you received the bank statement from TD Canada Trust indicating a balance of $5,820. The ending chequebook balance was $6,321. Prepare the bank reconciliation for Rose Company as of July 31, 2023, and prepare journal entries as needed based on the following:

a. Deposits in transit, $2,875.
b. Bank service charges, $24.
c. Cheques outsatnding: No. 111, $478; No. 115, $1,147.
d. TD Canada Trust collected a note for Rose, $1,770, less a $ 12 collection fee.
f. Rose Company records cheque No. 107 as $900 to pay the month's rent. The cancelled cheque and bank statement show the actual cheque was $800.
g. The bank made an error by deducting a cheque for $560 issued by another business.

Reference no: EM132946508

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