Wang Company deposits all receipts and makes all payments by check. The following information is available from
Question:
Instructions
(a) Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.
(b) Prepare the general journal entry or entries to correct the Cashaccount.
Transcribed Image Text:
June 30 Bank Reconciliation $14,000 3,080 Balance per bank Add: Deposits in transit Deduct: Outstanding checks Balance per books $13,080 Month of July Results Per Banlk Per Books $17,300 10,000 8,000 2,000 30 670 $18,500 11,620 6,200 Balance July 31 July deposits July checks July note collected (not included in July deposits) July bank service charge July NSF check from a customer, returned by the bank (recorded by bank as a charge)
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a WANG COMPANY Bank Reconciliation July 31 Balance per bank statement July 31 17300 Add D...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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