Prepare a bank reconcilation going from balance per bank and balance per book to correct cash balance. Outstanding checks from the June reconcilation cleared the bank in July. Month of July ResultsBalance July 31July depositsJuly checksJuly note collected (not included in July deposits)July bank service chargeJuly NSF check from a customer, returned by the bank (recorded by bank as a charge)Per Bank$46,71024,30021,6008,100811,809Per Books$49,95031,37416,740 Laura Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cashrecords.June 30 Bank ReconciliationBalance per bankAdd: Deposits in transitDeduct: Outstanding checksBalance per books$37,8008,316(10,800)$35,316

The bank reconciliation statement is prepared to equate the balance of the cash book and pass book…

Answered: Month of July Results Balance July 31…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 9EA: Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance:...

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Prepare a bank reconcilation going from balance per bank and balance per book to correct cash balance. Outstanding checks from the June reconcilation cleared the bank in July.

Month of July Results
Balance July 31
July deposits
July checks
July note collected (not included in July deposits)
July bank service charge
July NSF check from a customer, returned by the bank (recorded by bank as a charge)
Per Bank
$46,710
24,300
21,600
8,100
81
1,809
Per Books
$49,950
31,374
16,740

Laura 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
Add: Deposits in transit
Deduct: Outstanding checks
Balance per books
$37,800
8,316
(10,800)
$35,316

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Prepare the general journal entry to correct the Cash account. (If no entry is required, select "No Entry" for the account titles and enter
O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit
entries before credit entries.)

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