Question 28 ( On July 31, 2028, Massive Ltd. had a cash balance of $6,793 in its general ledger. The bank stat the Bank of Auditing on that date showed a balance of $6,578. A comparison of the bank state the Cash account revealed the following: a. Cash receipts for July 31 recorded on the company's books were $3,500, but this amo appear on the bank statement. b. A cheque of $5,100 made by another company was incorrectly deducted to Massive's the Bank of Auditing. c. The bank statement included service charges and debit and credit card processing fe d. Cheques outstanding on June 30 totaled $6,200. Of these, $4,600 worth cleared the cheques written in July cleared the bank in July. d electronic sollestions from customers on account totali
Question 28 ( On July 31, 2028, Massive Ltd. had a cash balance of $6,793 in its general ledger. The bank stat the Bank of Auditing on that date showed a balance of $6,578. A comparison of the bank state the Cash account revealed the following: a. Cash receipts for July 31 recorded on the company's books were $3,500, but this amo appear on the bank statement. b. A cheque of $5,100 made by another company was incorrectly deducted to Massive's the Bank of Auditing. c. The bank statement included service charges and debit and credit card processing fe d. Cheques outstanding on June 30 totaled $6,200. Of these, $4,600 worth cleared the cheques written in July cleared the bank in July. d electronic sollestions from customers on account totali
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 7.3BE
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