Organic Food Company's Cash account shows a $6,300 debit balance and its bank statement shows $5,720...

 

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Organic Food Company's Cash account shows a $6,300 debit balance and its bank statement shows $5,720 on deposit at the close of business on August 31. a. August 31 cash receipts of $2,040 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $200 NSF check from a customer, the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $1,920. d. In reviewing the bank statement, an $160 check written by Organic Fruits was mistakenly drawn against Organic Food's account e. The August 31 bank statement lists $100 in bank service charges; the company has not yet recorded the cost of these services. Prepare a bank reconciliation using the above Information. Organic Food Company's Cash account shows a $6,300 debit balance and its bank statement shows $5,720 on deposit at the close of business on August 31. a. August 31 cash receipts of $2,040 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $200 NSF check from a customer, the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $1,920. d. In reviewing the bank statement, an $160 check written by Organic Fruits was mistakenly drawn against Organic Food's account e. The August 31 bank statement lists $100 in bank service charges; the company has not yet recorded the cost of these services. Prepare a bank reconciliation using the above Information.

Answer rating: 100% (QA)

Bank Reconciliation Statement Organic Food Company August 31 20 Balance Per Bank Statement 5720 Add ... View the full answer