Organic Food Company's Cash account shows a $5,900 debit balance and its bank statement shows $5,440 on deposit at the close of business on August 31. a. August 31 cash receipts 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. c. Outstanding checks as of August 31 total $1,520. d. In reviewing the bank statement, an $120 check written 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.
Organic Food Company's Cash account shows a $5,900 debit balance and its bank statement shows $5,440 on deposit at the close of business on August 31. a. August 31 cash receipts 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. c. Outstanding checks as of August 31 total $1,520. d. In reviewing the bank statement, an $120 check written 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.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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![Required information
Use the following information for the Quick Studies 12-13 below. (Algo)
[The following information applies to the questions displayed below.]
Organic Food Company's Cash account shows a $5,900 debit balance and its bank statement shows $5,440 on deposit
at the close of business on August 31.
a. August 31 cash receipts 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.
c. Outstanding checks as of August 31 total $1,520.
d. In reviewing the bank statement, an $120 check written 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd271cb41-1895-495c-9f0e-6d66072d590e%2F7e477ad0-5357-4877-bdad-55719e95e42b%2F5ca6ti_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Use the following information for the Quick Studies 12-13 below. (Algo)
[The following information applies to the questions displayed below.]
Organic Food Company's Cash account shows a $5,900 debit balance and its bank statement shows $5,440 on deposit
at the close of business on August 31.
a. August 31 cash receipts 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.
c. Outstanding checks as of August 31 total $1,520.
d. In reviewing the bank statement, an $120 check written 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.
Transcribed Image Text:QS 6-13 (Algo) Entries from bank reconciliation LO P3
Prepare any necessary journal entries that Organic Food Company must record as a result of preparing the bank reconciliation. (If no
entry is required for a transaction/event, select "No journal entry required" in the first account field.)
View transaction list
Journal entry worksheet
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