The cash records and bank statement for the month of July for Glover Incorporated are shown...
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The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED O Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance Cash Balance Cash Cash + Receipts Disbursements - July 31, 2021 $5,950 $8,600 $10,000 Cash Receipts Desc. Amount Date Check# Amount Sales $2,620 7/7 531 $ 1,560 Sales 3,200 7/12 532 2,020 Sales 2,780 7/19 533 4,100 7/22 534 960 7/30 535 1,360 $8,600 $10,000 July 1, 2021 $7,350 Date 7/9 7/21 7/31 Cash Disbursements Desc. Rent Salaries Equipment Utilities Advertising Glover Incorporated 519 Main Street Gotebo, OK 73041 Account Holder: Account Number: Statement Date: Withdrawals and Debits Beginning Balance July 1, 2021 Total NO. Total $8,000 $5,876 7 $ 9,706 Deposits and Credits Withdrawals and Debits Date Amount No. Amount Desc. 7/10 $2,620 530 $ 650 CHK 7/22 3,200 531 1,560 CHK 7/31 56 532 2,020 CHK 460 NSF 533 4,400 CHK 560 EFT 56 SF $5,876 $9,706 Desc. DEP Customer deposit NOTE Note collected. SF Service fees INT Interest earned CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer. Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to check #53C which is outstanding as of June 30, 2021. b. Check # 533 is correctly processed by the bank. c. The EFT on July 26 relates to the purchase of office supplies. Deposits and Credits. NO. 3 Date 7/2 7/10 7/14 7/18 7/22 7/26 7/30 Desc. DEP DEP INT 2252790471 July 31, 2021 Ending Balance July 31, 2021 $ 4,170 Daily Balance Date 7/2 7/10 7/14 7/18 7/22 7/26 7/30 7/31 Amount $7,350 8,410 6,390 5,930 4,730 4,170 4,114 $4,170 Cash Interest Revenue Equipment Accounts Receivable Supplies Service Fee Expense Advertising Expense Cash General Journal Debit 56 560 460 560 56 1,560 Credit 56 3,996 x The cash records and bank statement for the month of July for Glover Incorporated are shown below. GLOVER INCORPORATED O Cash Account Records July 1, 2021, to July 31, 2021 Cash Balance Cash Balance Cash Cash + Receipts Disbursements - July 31, 2021 $5,950 $8,600 $10,000 Cash Receipts Desc. Amount Date Check# Amount Sales $2,620 7/7 531 $ 1,560 Sales 3,200 7/12 532 2,020 Sales 2,780 7/19 533 4,100 7/22 534 960 7/30 535 1,360 $8,600 $10,000 July 1, 2021 $7,350 Date 7/9 7/21 7/31 Cash Disbursements Desc. Rent Salaries Equipment Utilities Advertising Glover Incorporated 519 Main Street Gotebo, OK 73041 Account Holder: Account Number: Statement Date: Withdrawals and Debits Beginning Balance July 1, 2021 Total NO. Total $8,000 $5,876 7 $ 9,706 Deposits and Credits Withdrawals and Debits Date Amount No. Amount Desc. 7/10 $2,620 530 $ 650 CHK 7/22 3,200 531 1,560 CHK 7/31 56 532 2,020 CHK 460 NSF 533 4,400 CHK 560 EFT 56 SF $5,876 $9,706 Desc. DEP Customer deposit NOTE Note collected. SF Service fees INT Interest earned CHK Customer check NSF Nonsufficient funds EFT Electronic funds transfer. Additional information: a. The difference in the beginning balances in the company's records and the bank statement relates to check #53C which is outstanding as of June 30, 2021. b. Check # 533 is correctly processed by the bank. c. The EFT on July 26 relates to the purchase of office supplies. Deposits and Credits. NO. 3 Date 7/2 7/10 7/14 7/18 7/22 7/26 7/30 Desc. DEP DEP INT 2252790471 July 31, 2021 Ending Balance July 31, 2021 $ 4,170 Daily Balance Date 7/2 7/10 7/14 7/18 7/22 7/26 7/30 7/31 Amount $7,350 8,410 6,390 5,930 4,730 4,170 4,114 $4,170 Cash Interest Revenue Equipment Accounts Receivable Supplies Service Fee Expense Advertising Expense Cash General Journal Debit 56 560 460 560 56 1,560 Credit 56 3,996 x
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Related Book For
Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
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