The following information is available to reconcile Branch Company's book balance of cash with its bank...
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The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,787 debit balance, but its July bank statement shows a $28,449 cash balance b. Check Number 3031 for $1,630, Check Number 3065 for $591, and Check Number 3069 for $2,398 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $6,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw Branch has not yet recorded this check as NSF. f. The July statement shows a $10 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received Deduct g. Branch's July 31 daily cash receipts of $7,632 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. Required: 1. Prepare the bank reconciliation for this company as of July 31. Bank statement balance Add Adjusted bank balance $ BRANCH COMPANY Bank Reconciliation July 31 0 0 Book balance Add Deduct 0 0 Adjusted book balance $ 0 0 0 0 The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,787 debit balance, but its July bank statement shows a $28,449 cash balance b. Check Number 3031 for $1,630, Check Number 3065 for $591, and Check Number 3069 for $2,398 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $6,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw Branch has not yet recorded this check as NSF. f. The July statement shows a $10 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received Deduct g. Branch's July 31 daily cash receipts of $7,632 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. Required: 1. Prepare the bank reconciliation for this company as of July 31. Bank statement balance Add Adjusted bank balance $ BRANCH COMPANY Bank Reconciliation July 31 0 0 Book balance Add Deduct 0 0 Adjusted book balance $ 0 0 0 0 The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,787 debit balance, but its July bank statement shows a $28,449 cash balance b. Check Number 3031 for $1,630, Check Number 3065 for $591, and Check Number 3069 for $2,398 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $6,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $10 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received Deduct g. Branch's July 31 daily cash receipts of $7,632 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. Required: 1. Prepare the bank reconciliation for this company as of July 31. Bank statement balance Add Adjusted bank balance $ BRANCH COMPANY Bank Reconciliation July 31 0 0 Book balance Add Deduct 0 0 Adjusted book balance $ 0 0 0 0 The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,787 debit balance, but its July bank statement shows a $28,449 cash balance b. Check Number 3031 for $1,630, Check Number 3065 for $591, and Check Number 3069 for $2,398 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $6,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw Branch has not yet recorded this check as NSF. f. The July statement shows a $10 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received Deduct g. Branch's July 31 daily cash receipts of $7,632 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. Required: 1. Prepare the bank reconciliation for this company as of July 31. Bank statement balance Add Adjusted bank balance $ BRANCH COMPANY Bank Reconciliation July 31 0 0 Book balance Add Deduct 0 0 Adjusted book balance $ 0 0 0 0 The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,787 debit balance, but its July bank statement shows a $28,449 cash balance b. Check Number 3031 for $1,630, Check Number 3065 for $591, and Check Number 3069 for $2,398 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $6,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw Branch has not yet recorded this check as NSF. f. The July statement shows a $10 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received Deduct g. Branch's July 31 daily cash receipts of $7,632 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. Required: 1. Prepare the bank reconciliation for this company as of July 31. Bank statement balance Add Adjusted bank balance $ BRANCH COMPANY Bank Reconciliation July 31 0 0 Book balance Add Deduct 0 0 Adjusted book balance $ 0 0 0 0 The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,787 debit balance, but its July bank statement shows a $28,449 cash balance b. Check Number 3031 for $1,630, Check Number 3065 for $591, and Check Number 3069 for $2,398 are outstanding checks as of July 31. c. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered in the accounting records as $1,220. d. The July bank statement shows the bank collected $6,500 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $10 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received Deduct g. Branch's July 31 daily cash receipts of $7,632 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. Required: 1. Prepare the bank reconciliation for this company as of July 31. Bank statement balance Add Adjusted bank balance $ BRANCH COMPANY Bank Reconciliation July 31 0 0 Book balance Add Deduct 0 0 Adjusted book balance $ 0 0 0 0
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Lets prepare the bank reconciliation statement for Branch Company as of July 31st by following the information given and making the adjustments Bank S... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
Posted Date:
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