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The following information pertains to Pharoah Company. 1. 2. 3. 4. 5. 6. Cash balance per bank, July 31, $7,588. July bank service charge not recorded by the depositor $45. Cash balance per books, July 31, $7,624. Deposits in transit, July 31, $2,960. $2,276 collected for Pharoah Company in July by the bank through electronic funds transfer. The collection has not been recorded by Pharoah Company. Outstanding checks, July 31, $693.

The following information pertains to Pharoah Company. 1. 2. 3. 4. 5. 6. Cash balance per bank, July 31, $7,588. July bank service charge not recorded by the depositor $45. Cash balance per books, July 31, $7,624. Deposits in transit, July 31, $2,960. $2,276 collected for Pharoah Company in July by the bank through electronic funds transfer. The collection has not been recorded by Pharoah Company. Outstanding checks, July 31, $693.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 9EA: Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance:...
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Prepare a bank reconciliation at July 31, 2027. (List items that increase balance as per bank & books first.) PHAROAH COMPANY Bank Reconciliation ta $ $ ta $ $
Transcribed Image Text:Prepare a bank reconciliation at July 31, 2027. (List items that increase balance as per bank & books first.) PHAROAH COMPANY Bank Reconciliation ta $ $ ta $ $
The following information pertains to Pharoah Company. 1. 2. 3. 4. 5. 6. Cash balance per bank, July 31, $7,588. July bank service charge not recorded by the depositor $45. Cash balance per books, July 31, $7,624. Deposits in transit, July 31, $2,960. $2,276 collected for Pharoah Company in July by the bank through electronic funds transfer. The collection has not been recorded by Pharoah Company. Outstanding checks, July 31, $693.
Transcribed Image Text:The following information pertains to Pharoah Company. 1. 2. 3. 4. 5. 6. Cash balance per bank, July 31, $7,588. July bank service charge not recorded by the depositor $45. Cash balance per books, July 31, $7,624. Deposits in transit, July 31, $2,960. $2,276 collected for Pharoah Company in July by the bank through electronic funds transfer. The collection has not been recorded by Pharoah Company. Outstanding checks, July 31, $693.
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