Arman has just been hired as the bookkeeper for Smart Drive Co. His first responsibility is to
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The bank statement had an ending balance at July 31 of $22,497. The bank had col lected on a note on behalf of the company. The total collection was $2,250, including $250 of interest. The previous bookkeeper had recorded total deposits to cash during July of $56,930, and total payments from cash during July of $44,750. The reconciled cash balance on June 30, 2015, was $15,858. An NSF cheque for $1,700, written by P. Grenier in payment of its account, was returned with the July bank statement. July service charges were $52. Cheque No. 1225 had been recorded by the previous book keeper as $6,700, but it was correctly cashed by the bank as $7,600. Cheque No. 1225 was written to the utility company for July utilities. Three cheques written in July had not yet cleared the bank account, totalling $2,638. Cheque No. 1243 had been incorrectly cashed by the bank for $2,000, but it had actually been written for $5,000. A deposit of $5,246, made after banking hours on July 31, did not appear on the bank statement.
Included with the bank statement were two EFT transactions: one for a $256 payment to a supplier, Office Supply Co., on account, and one for a $725 deposit from a customer, Bob's Grill Co., on account.
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Related Book For
Accounting
ISBN: 978-0176509743
Volume 1, 2nd canadian Edition
Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,
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