(a) Your answer is sarrect Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance. Outstanding checks from the June reconciliation cleared the bank in July
(a) Your answer is sarrect Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance. Outstanding checks from the June reconciliation cleared the bank in July
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1PB
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Question
![Michelle Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the
cash records
June 30 Bank Reconciliation
Balance per bank
$36,400
Add Deposits in transit
8,008
Deduct: Outstanding checks
(10.400)
Balance per books
$34,008
Month of July Results
Per Bank
Balance July 31
July deposits
July checks
July note collected (not included in July deposits)
July bank service charge
$44.980
Per Books
$48.100
23,400
30.212
20.800
16,120
7.800
78
July NSF check from a customer, returned by the bank (recorded by bank as a chargel
1742
(a)
Your answer is correct
Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance, Outstanding checks
from the June reconciliation cleared the bank in July](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F62d95582-cbf2-49de-ac5a-da05cecb0899%2F9da8472b-75e6-4f7f-9ee5-6842d1d3d58b%2F3vy1ezc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Michelle Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the
cash records
June 30 Bank Reconciliation
Balance per bank
$36,400
Add Deposits in transit
8,008
Deduct: Outstanding checks
(10.400)
Balance per books
$34,008
Month of July Results
Per Bank
Balance July 31
July deposits
July checks
July note collected (not included in July deposits)
July bank service charge
$44.980
Per Books
$48.100
23,400
30.212
20.800
16,120
7.800
78
July NSF check from a customer, returned by the bank (recorded by bank as a chargel
1742
(a)
Your answer is correct
Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance, Outstanding checks
from the June reconciliation cleared the bank in July
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