Success Company has just received its bank statement for the month of July 201X from its bank. No outstanding checks were carried over from June and no deposits in transits were noted at the end of June. The bank statement and the cash account, summarized below, are to be reconciled for the month of July 201X.Bank StatementCash AccountBalance, July 1 $ 1,310Balance, July 1 $1,310Deposits recorded 19,456 Deposits 33,000Notes collected as agent 10,100Checks written (20,508)Interest collected for July 360 Service charges (100) Checks cleared (18,400) NSF check (180) Balance, July 31 $12,546 Balance, July 31 $13,802Required:(a) Prepare the Bank Reconciliation Statement of Success Company for the month of July 201X.

1. Difference of $13544 between Deposits in Cash account of $33000 and Deposits in Bank Statement of…

Answered: Required: (a) Prepare the Bank…

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 5PA

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Success Company has just received its bank statement for the month of July 201X from its bank. No outstanding checks were carried over from June and no deposits in transits were noted at the end of June. The bank statement and the cash account, summarized below, are to be reconciled for the month of July 201X.

Bank Statement	Cash Account
Balance, July 1 $ 1,310	Balance, July 1 $1,310
Deposits recorded 19,456	Deposits 33,000
Notes collected as agent 10,100	Checks written (20,508)
Interest collected for July 360
Service charges (100)
Checks cleared (18,400)
NSF check (180)
Balance, July 31 $12,546	Balance, July 31 $13,802

Required:
(a) Prepare the Bank Reconciliation Statement of Success Company for the month of
July 201X.

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