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Angela Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records. Instructions (a) Prepare a bank reconciliation going from balance per bank and balance per books to correct cash balance.

Angela Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.


Angela Lansbury Company deposits all receipts and makes all paym


Instructions
(a) Prepare a bank reconciliation going from balance per bank and balance per books to correct cash balance.
(b) Prepare the general journal entry or entries to correct the Cashaccount.

Transcribed Image Text:

June 30 Bank Reconciliation Balance per bank Add: Deposits in transit Deduct: Outstanding checks Balance per books $7,000 1,540 (2,000) $6,540 Month of July Results 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 Per Bank $8,650 5,000 4,000 1,000 15 335 Per Books $9,250 5,810 3,100 (recorded by bank as a charge)

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Intermediate Accounting principles and analysis

Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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Question Details
Chapter # 8- CASH AND RECEIVABLES
Section: Exercises
Problem: 27
Posted Date: May 16, 2012 07:28:16
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