The July 31 bank statement for a catering company reported a balance of $15,014. The company's book
Question:
The July 31 bank statement for a catering company reported a balance of $15,014. The company's book balance shows $19,960. Two checks written by the company are outstanding, #333 and #336 in the amounts of $1,680 and $1,120, respectively. Interest earned and paid to the catering company was $428 and had not been recorded in the company's accounts. The bank had, in error, charged a check of another company to the catering company in the amount of $140. The bank charged the firm $24 for service charges. A deposit in the amount of $8,010 remains in transit, since it was not deposited in time to be shown in the July bank statement. Prepare the bank reconciliation for July.
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett