Reference no: EM13259169
The following information is available to reconcile HamiltonCompany's book balance of cash with its bank statement cash balanceas of July 31, 2009.
1) On July 31, the company's Cash account has a $25,862debit balance, but its July bank statement shows a $28,575 cashbalance.
2) Check No. 3031 for $1,670 and Check No. 3040 for$827 were outstanding on the June 30 bank reconciliation. Check No.3040 is listed with the July canceled checks, but Check No. 3031is not. Also, Check No. 3065 for$611 and Check No. 3069 for $2,438, both written in July, arenot among the canceled checks onthe July 31 statement.
3) In comparing the canceled checks on the bankstatement with the entries in the accounting records, it was found that Check No. 3056for July rent was correctly written and drawn for $1,250 butwas erroneously entered in theaccounting records as $1,240
a) Prepare the Bank reconciliationfor this company as of July 31, 2009
b) Prepare the journal entriesnecessary to bring the company's book balance of cash into conformity with the reconciled cash balance as of July 31, 2009.
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