Roper Electronics received its bank statement for the month of August with an ending balance of$11,740. Roper determined that check #613 for $155 and check #601 for $420 were bothoutstanding. Also, a $6,900 deposit for August 30 was in transit as of the end of the month.Northern Regional Bank also collected a $5,000 notes receivable on August 1 that was issued March1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the collection service. Thebank statement reveals a bank service charge of $20. A customer check for $68 vas returned withthe bank statement marked "NSF." The ending balance of the Roper cash account is $12,938.Prepare a bank/account reconciliation and any necessary journal entries for the reconciliation.Roper ElectronicsBank ReconciliationCash balance according to bank statementAdjusted balanceCash balance according to Roper ElectronicsAdjusted balance Record the entry to increase cash first. For a compound transaction, If an amount box does notrequire an entry, leave it blank.Aug. 31Aug. 31Aug. 31Aug. 310 00

Bank Reconciliation Statement: This is a statement which is prepared to reconcile the bank balance…

Roper Electronics received its bank statement for the month of August with an ending balance of $11,740. Roper determined that check #613 for $155 and check #601 for $420 were both outstanding. Also, a $6,900 deposit for August 30 vas in transit as of the end of the month. Northern Regional Bank also collected a $5,000 notes receivable on August 1 that was issued March 1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the collection service. The bank statement reveals a bank service charge of $20. A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938. Prepare a bank/account reconciliation and any necessary journal entries for the reconciliation. Roper Electronics Bank Reconciliation Cash balance according to bank statement Adjusted balance Cash balance according to Roper Electronics Adjusted balance

Roper Electronics received its bank statement for the month of August with an ending balance of $11,740. Roper determined that check #613 for $155 and check #601 for $420 were both outstanding. Also, a $6,900 deposit for August 30 vas in transit as of the end of the month. Northern Regional Bank also collected a $5,000 notes receivable on August 1 that was issued March 1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the collection service. The bank statement reveals a bank service charge of $20. A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938. Prepare a bank/account reconciliation and any necessary journal entries for the reconciliation. Roper Electronics Bank Reconciliation Cash balance according to bank statement Adjusted balance Cash balance according to Roper Electronics Adjusted balance

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 2SEQ

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