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May 31. E7-8 The following information pertains to Lance Company. 1 Cash balance per bank, July 31, $7,328. July bank service charge not recorded by the depositor $38. Prep adju 3. Cash balance per books, July 31, $7,364. 4. Deposits in transit, July 31, $2,700. 5. $2,016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. (LO 6. Outstanding checks, July 31, $686. Instructions (a) Prepare a bank reconciliation at July 31, 2017. (b) Journalize the adjusting entries at July 31 on the books of Lance Company. E7-9 This information relates to the Cash account in the ledger of Howard Company. fontember 1-$16,400; Cash deposited-$64,000 100: Checks written-$62,800 20 ond the

May 31. E7-8 The following information pertains to Lance Company. 1 Cash balance per bank, July 31, $7,328. July bank service charge not recorded by the depositor $38. Prep adju 3. Cash balance per books, July 31, $7,364. 4. Deposits in transit, July 31, $2,700. 5. $2,016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. (LO 6. Outstanding checks, July 31, $686. Instructions (a) Prepare a bank reconciliation at July 31, 2017. (b) Journalize the adjusting entries at July 31 on the books of Lance Company. E7-9 This information relates to the Cash account in the ledger of Howard Company. fontember 1-$16,400; Cash deposited-$64,000 100: Checks written-$62,800 20 ond the

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...
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May 31. E7-8 The following information pertains to Lance Company. 1 Cash balance per bank, July 31, $7,328. July bank service charge not recorded by the depositor $38. Prep adju 3. Cash balance per books, July 31, $7,364. 4. Deposits in transit, July 31, $2,700. 5. $2,016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. (LO 6. Outstanding checks, July 31, $686. Instructions (a) Prepare a bank reconciliation at July 31, 2017. (b) Journalize the adjusting entries at July 31 on the books of Lance Company. E7-9 This information relates to the Cash account in the ledger of Howard Company. fontember 1-$16,400; Cash deposited-$64,000 100: Checks written-$62,800 20 ond the
Transcribed Image Text:May 31. E7-8 The following information pertains to Lance Company. 1 Cash balance per bank, July 31, $7,328. July bank service charge not recorded by the depositor $38. Prep adju 3. Cash balance per books, July 31, $7,364. 4. Deposits in transit, July 31, $2,700. 5. $2,016 collected for Lance Company in July by the bank through electronic funds transfer. The collection has not been recorded by Lance Company. (LO 6. Outstanding checks, July 31, $686. Instructions (a) Prepare a bank reconciliation at July 31, 2017. (b) Journalize the adjusting entries at July 31 on the books of Lance Company. E7-9 This information relates to the Cash account in the ledger of Howard Company. fontember 1-$16,400; Cash deposited-$64,000 100: Checks written-$62,800 20 ond the
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