Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.) PHAROAH COMPANY Bank Reconciliation 2$ $ $

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 7EA: Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance:...
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Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.)
PHAROAH COMPANY
Bank Reconciliation
$
%24
%24
Transcribed Image Text:Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank & books first.) PHAROAH COMPANY Bank Reconciliation $ %24 %24
The following information pertains to Pharoah Company.
1.
Cash balance per bank, July 31, $9,918.
2.
July bank service charge not recorded by the depositor $57.
3.
Cash balance per books, July 31, $10,032.
4.
Deposits in transit, July 31, $4,047.
$2,280 collected for Pharoah Company in July by the bank through electronic funds transfer. The accounts receivable
collection has not been recorded by Pharoah Company.
5.
6.
Outstanding checks, July 31, $1,710.
Transcribed Image Text:The following information pertains to Pharoah Company. 1. Cash balance per bank, July 31, $9,918. 2. July bank service charge not recorded by the depositor $57. 3. Cash balance per books, July 31, $10,032. 4. Deposits in transit, July 31, $4,047. $2,280 collected for Pharoah Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Pharoah Company. 5. 6. Outstanding checks, July 31, $1,710.
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