The following information pertains to Tim's DVD Company. 1. Cash balance per bank, July 31, $2,542. 2. July bank service charge not recorded by the depositor $10. Cash balance per books, July 31, $2,549. Deposits in transit, July 31, $825. 5. Bank collected $600 note for Tim's in July, plus interest $36, less fee $15. The collection has not been recorded by Tim's, and no interest has been accrued. 6. Outstanding checks, July 31, $207. Instructions (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the books of Tim's DVD Company.

The following information pertains to Tim's DVD Company. 1. Cash balance per bank, July 31, $2,542. 2. July bank service charge not recorded by the depositor $10. Cash balance per books, July 31, $2,549. Deposits in transit, July 31, $825. 5. Bank collected $600 note for Tim's in July, plus interest $36, less fee $15. The collection has not been recorded by Tim's, and no interest has been accrued. 6. Outstanding checks, July 31, $207. Instructions (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the books of Tim's DVD Company.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter8: Sarbanes-oxley, Internal Control, And Cash

Section: Chapter Questions

Problem 18E

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