The following information is available for Park Valley Spa for July Year 1:

BANK STATEMENT STATE BANK BOLTA VISTA, NV 10001
Park Valley Spa 10 Main Street Bolta Vista, NV 10001				Account number 12-4567 July 31, Year 1
Beginning balance 6/30/Year 1				$	9,990
Total deposits and other credits					29,807
Total checks and other debits					22,529
Ending balance 7/31/Year 1					17,268
Checks and Debits				Deposits and Credits
Check No.	Amount			Date			Amount
2350	$	3,766		July	1		$	1,101
2351		1,649		July	10			6,498
2352		8,002		July	15			4,928
2354		1,402		July	21			6,174
2355		6,189		July	26			5,967
2357		1,503		July	30			2,088
DM		18		CM				3,051

The following is a list of checks and deposits recorded on the books of the Park Valley Spa for July Year 1:

Date			Check No.	Amount of Check			Date		Amount of Deposit
July	2		2351	$	1,649		July	8	$	6,498
July	4		2352		8,002		July	14		4,928
July	10		2353		2,891		July	21		6,174
July	10		2354		1,402		July	26		5,967
July	15		2355		6,189		July	29		2,088
July	20		2356		72		July	30		3,547
July	22		2357		1,503

Other Information

1. Check no. 2350 was outstanding from June.
2. The credit memo was for collection of notes receivable.
3. All checks were paid at the correct amount.
4. The debit memo was for printed checks.
5. The June 30 bank reconciliation showed a deposit in transit of $1,101.
6. The unadjusted Cash account balance at July 31 was $14,819.

Required:

a. Prepare the bank reconciliation for Park Valley Spa at the end of July.

Complete this question by entering your answers in the tabs below.

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• Required A

Prepare the bank reconciliation for Park Valley Spa at the end of July.

PARK VALLEY SPA
Bank Reconciliation
July 31, Year 1
Unadjusted Bank Balance, July 31, Year 1
Add: Deposit in transit
Less: Outstanding checks #2353
Less: Outstanding checks #2356
		0
True Cash Balance, July 31, Year 1		$0
Unadjusted Book Balance, July 31, Year 1
Add: Credit memo for collection of notes receivable
Less: Debit memo for printed checks
True Cash Balance, July 31, Year 1		$0

Answer rating: 100% (QA)

Park Valley SPA Bank Reconciliation July 31 Year1 Unadjust... View the full answer