What amount of cash should be reported in the august

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Reference no: EM132495084

Aragon Company has just received the August 31, .To I S, bank statement. which is summarized below.

County Nations' Bank

Desbursetnents

Receipts

Otto

Balance August 1

 

 

S 0.369

Deposits during August

 

$32,200

41.569

Nolo collided kr depositor. Inckeang S40 Mount

 

1,040

42,609

Cusps cleared drip August

S34.500

 

8.109

Beret service themes

20

 

8.090

Balance, August 31

 

 

8.099

The general ledger Cash account contained the following entries (or the month of August.
Cash
Balanock August 1 10,060 1 Disbursements

Deposits in transit at August 31 are 13,800, and checks outstanding at August 31 total $1,550. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $14650 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August.

Instructions

Question (a) Prepare a bank reconciliation dated August 31, 2015, proceeding to a correct balance.

Question (b) Prepare any entries necessary to make the books correct and complete.

Question (c) What amount of cash should be reported in the August 31 statement of financial position?

Reference no: EM132495084

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