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Organic Food Co.s cash account shows a $5,900 debit balance and Its bank statement shows $5.440 on deposit at the dlose of business on August 31. a. August 31 cash recelpts of $1.640 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement b. The bank statement shows a $160 NSF check from a customer, the company has not yet recorded this NSF check d. In reviewing the bank statement, an $120 check witten by Organic Fruits was mistakenly drawn against Organic Food's account e. The August 31 bank statement lists $60 in bank service charges; the company has not yet recorded the cost of these services. Prepare a bank reconciliation using the above information. ORGANIC FOOD CO. Bank Reconciliation August 31 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance

Organic Food Co.s cash account shows a $5,900 debit balance and Its bank statement shows $5.440 on deposit at the dlose of business on August 31. a. August 31 cash recelpts of $1.640 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement b. The bank statement shows a $160 NSF check from a customer, the company has not yet recorded this NSF check d. In reviewing the bank statement, an $120 check witten by Organic Fruits was mistakenly drawn against Organic Food's account e. The August 31 bank statement lists $60 in bank service charges; the company has not yet recorded the cost of these services. Prepare a bank reconciliation using the above information. ORGANIC FOOD CO. Bank Reconciliation August 31 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance

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 1PB
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Organic Food Co.s cash account shows a $5,900 debit balance and Its bank statement shows $5440 on deposit at the close of business on August 31. a. August 31 cash recelpts of $1,640 were placed in the bank's night depository after bankıng hours and were not recorded on the August 31 bank statement b. The bank statement shows a $160 NSF check from a customer, the company has not yet recorded this NSF check. c Outstanding checks as of August 31 total $1,520. d. In revlewing the bank statement, an $120 check witten by Organic Frults was mistakenly drawn agalnst Organic Food's account. e. The August 31 bank statement lists $60 In bank service charges; the company has not yet recorded the cost of these services. Prepare a bank reconcliation using the above Information. ORGANIC FOOD CO. Bank Reconciliation August 31 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance
Transcribed Image Text:Organic Food Co.s cash account shows a $5,900 debit balance and Its bank statement shows $5440 on deposit at the close of business on August 31. a. August 31 cash recelpts of $1,640 were placed in the bank's night depository after bankıng hours and were not recorded on the August 31 bank statement b. The bank statement shows a $160 NSF check from a customer, the company has not yet recorded this NSF check. c Outstanding checks as of August 31 total $1,520. d. In revlewing the bank statement, an $120 check witten by Organic Frults was mistakenly drawn agalnst Organic Food's account. e. The August 31 bank statement lists $60 In bank service charges; the company has not yet recorded the cost of these services. Prepare a bank reconcliation using the above Information. ORGANIC FOOD CO. Bank Reconciliation August 31 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance
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