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Health Fervor Company Ltd. operates four gyms in the city. On October 31, 2016, the business received its bank statement from National Bank. The statement shows cash balance of $900. The statement includes EFT rent collection of $405, a service charge of $7, NSF checks totaling $45, and a $26 charge for printed checks. In reviewing the cash records, the business identified outstanding checks totaling $460 and a deposit in transit of $1,765. During October, the business recorded a $260 check by debiting Salaries Expense and crediting Cash for $26. The business’s Cash account shows an October 31 balance of $2,112. Required: Prepare Bank Reconciliation Statement

Health Fervor Company Ltd. operates four gyms in the city. On October 31, 2016, the business received its bank statement from National Bank. The statement shows cash balance of $900. The statement includes EFT rent collection of $405, a service charge of $7, NSF checks totaling $45, and a $26 charge for printed checks. In reviewing the cash records, the business identified outstanding checks totaling $460 and a deposit in transit of $1,765. During October, the business recorded a $260 check by debiting Salaries Expense and crediting Cash for $26. The business’s Cash account shows an October 31 balance of $2,112. Required: Prepare Bank Reconciliation Statement

College Accounting (Book Only): A Career Approach
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 5E
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Health Fervor Company Ltd. operates four gyms in the city. On October 31, 2016, the business received
its bank statement from National Bank. The statement shows cash balance of $900. The statement
includes EFT rent collection of $405, a service charge of $7, NSF checks totaling $45, and a $26 charge
for printed checks. In reviewing the cash records, the business identified outstanding checks totaling
$460 and a deposit in transit of $1,765. During October, the business recorded a $260 check by debiting
Salaries Expense and crediting Cash for $26. The business’s Cash account shows an October 31 balance
of $2,112.
Required: Prepare Bank Reconciliation Statement

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