Question: Using the data in BE7.9, determine or calculate the cash balance per Southco Limited's books. An examination of the company's July bank statement shows a

Using the data in BE7.9, determine or calculate the cash balance per Southco Limited's books. An examination of the company's July bank statement shows a balance of $19,260 on July 31; outstanding cheques $3,630; deposits in transit $1,450; EFT collections on account that were not yet recorded on the books $2,170; NSF cheque $1,270; NSF fee $50; and bank services charges $90. Prepare the bank reconciliation at July 31.

Step by Step Solution

★★★★★

3.40 Rating (175 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Cash balance per bank 19260 Add Deposits in transit 1450 20710 Less ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1274-B-C-A-E-T(626).docx

120 KBs Word File

Students Have Also Explored These Related Cost Accounting Questions!

Using the data in BE7-9, determine or calculate the unadjusted cash balance for Southco Limited. An examination of the company's July bank statement shows a balance of $15,840 on July 31; outstanding...

Using the data in BE7-10, prepare the adjusting entries required on July 31 for Southco. Data from BE 7-10 Using the data in BE79, determine or calculate the unadjusted cash balance for Southco...

Using the data in BE7-8, indicate (a) The items that will result in an adjustment to the depositors records and (b) Why the other items do not require adjustment.

2:0 12 67% 2.kunpace.hku.hk 3/9 SECTION B (85 marks) Answer ALL questions from this section. QUESTION 1 (10 marks) On July 31, 2021. Bruce Company had a cash balance per books of $21,480. The bank...

8. Which of the following accounts has a normal debit balance? a. Accounts Payable b. Sales Returns and Allowances c. Sales d. Interest Revenue 9. Using a perpetual inventory system, the entry to...

2. DMC Company had checks outstanding totaling $18,200 on its June bank reconciliation. In July, DMC Company issued checks totaling $78,900. The July bank statement shows that $71,400 in checks...

I need the following Answered. E3-3B E3-5B E3-8B E3-14B P3-8B P3-11B c03BExercises.qxd 12/7/12 10:30 AM Page 1 B EXERCISES 4 E3-1B (Transaction AnalysisService Company) Brown is a licensed CPA....

Can anyone help me to get right answers .whoever gonna help plz remember once I submit the answers can't change kindly pick the answers wisely Question 2 of 30 Consider the following data: Silicon...

I am needing Help finding the journal entries, adjustment trial balance, income statement, statement of retained earnings, classified balance sheet,closing entries, and post-closing trial balance....

Please workexercise 2-6 thru 2-12, chapter 2 pages and work template attached. CHAPTER 2 THE FINANCIAL STATEMENTS CHAPTER LEARNING OBJECTIVES Upon completion of this chapter, you should be able to:...

In receiver using coherent detection, the sinusoidal wave generated by the local oscillator suffers from a phase error (t) with respect to the carrier wave cos (2ct). Assuming that (t) is a ample...

Recent economic conditions are forcing MegaCorp to drop its price from $50 to $40 per unit, but the company expects its sales to rise from 600,000 to 750,000 units. The company produces exactly...

If you change your mind about your insurance policy, you have 6 0 days to return it to receive a refund of your premium.

2.5 You plan to buy a used refrigerator this year for $200 and to sell it when you graduate in two years. Assuming that you can get $100 for the refrigerator at that time, there is no inflation, and...

The financial statements of Jean Coutu are presented in Appendix B following the financial statements for Shoppers Drug Mart in Appendix A. Instructions (a) Refer to the statement of earnings for...

Boston Pizza Royalties Income Fund is a public company that has over 340 Boston Pizza locations in Canada. Pizza Pizza Limited is a privately held company that has over 500 locations in Canada....

Depinder Singh is a friend of yours who has worked at a number of restaurants. He has always wanted to own his own business and his dream can now come true because he just won $1 million in a...

Ken Allen, capital budgeting analyst for Bally Gears, Inc., has been asked to evaluate a proposal. The manager of the automotive division believes that replacing the robotics used on the heavy truck...

9 53% of students entering four-year colleges receive a degree within six years. Is this percent smaller than for students who play intramural sports? 122 of the 235 students who played intramural...

Muller's Investigative Services has stock is trading at $65 per share. The stock is expected to have a year-end dividend of $4 per share (D1 = $4), and it is expected to grow at some constant rate,...