The following information pertains to Wildhorse Company. 1. Cash balance per books, August 31, $7,424. 2. Cash balance per bank, August 31, $7,388. 3. Outstanding checks, August 31, $709. 4. August bank service charge not recorded by the depositor $61. 5. Deposits in transit, August 31, $3,760. In addition, $3,076 collected for Wildhorse Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Wildhorse Company. Prepare a bank reconciliation at August 31, 2022. (List items that increase balance as per bank & books first.) WILDHORSE COMPANYBank ReconciliationChoose the accounting period For the Month Ended August 31, 2022For the Year Ended August 31, 2022August 31, 2022 Select an opening section 1 name Adjusted cash balance per bankDeposits in transitBank service chargeCollection on electronic funds transferCash balance per bank statementOutstanding checks $Enter a dollar amount Select between addition and deduction LessAdd : Select a reconciling item Bank service chargeDeposits in transitAdjusted cash balance per bankCash balance per bank statementOutstanding checksCollection on electronic funds transfer Enter a dollar amount Enter a subtotal of the two previous amounts Select between addition and deduction AddLess : Select a reconciling item Collection on electronic funds transferBank service chargeCash balance per bank statementAdjusted cash balance per bankDeposits in transitOutstanding checks Enter a dollar amount Select a closing section 1 name Collection on electronic funds transferAdjusted cash balance per bankOutstanding checksBank service chargeCash balance per bank statementDeposits in transit $Enter a total amount for section one Select an opening section 2 name Deposits in transitAdjusted cash balance per booksCash balance per booksOutstanding checksBank service chargeCollection on electronic funds transfer $Enter a dollar amount Select between addition and deduction AddLess : Select a reconciling item Deposits in transitAdjusted cash balance per booksCash balance per booksOutstanding checksCollection on electronic funds transferBank service charge Enter a dollar amount Enter a subtotal of the two previous amounts Select between addition and deduction LessAdd : Select a reconciling item Adjusted cash balance per booksOutstanding checksDeposits in transitBank service chargeCash balance per booksCollection on electronic funds transfer Enter a dollar amount Select a closing section 2 name Cash balance per booksDeposits in transitOutstanding checksBank service chargeCollection on electronic funds transferAdjusted cash balance per books $Enter a total amount for section two SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the adjusting entries at August 31 on the books of Wildhorse Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 Enter an account title to record electronic funds transfer received by bank on july 31 Enter a debit amount Enter a credit amount Enter an account title to record electronic funds transfer received by bank on july 31 Enter a debit amount Enter a credit amount (To record electronic funds transfer received by bank) July 31 Enter an account title to record bank service charge on july 31 Enter a debit amount Enter a credit amount Enter an account title to record bank service charge on july 31 Enter a debit amount Enter a credit amount (To record bank service charge)

The following information pertains to Wildhorse Company. 1. Cash balance per books, August 31, $7,424. 2. Cash balance per bank, August 31, $7,388. 3. Outstanding checks, August 31, $709. 4. August bank service charge not recorded by the depositor $61. 5. Deposits in transit, August 31, $3,760. In addition, $3,076 collected for Wildhorse Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Wildhorse Company. Prepare a bank reconciliation at August 31, 2022. (List items that increase balance as per bank & books first.) WILDHORSE COMPANYBank ReconciliationChoose the accounting period For the Month Ended August 31, 2022For the Year Ended August 31, 2022August 31, 2022 Select an opening section 1 name Adjusted cash balance per bankDeposits in transitBank service chargeCollection on electronic funds transferCash balance per bank statementOutstanding checks $Enter a dollar amount Select between addition and deduction LessAdd : Select a reconciling item Bank service chargeDeposits in transitAdjusted cash balance per bankCash balance per bank statementOutstanding checksCollection on electronic funds transfer Enter a dollar amount Enter a subtotal of the two previous amounts Select between addition and deduction AddLess : Select a reconciling item Collection on electronic funds transferBank service chargeCash balance per bank statementAdjusted cash balance per bankDeposits in transitOutstanding checks Enter a dollar amount Select a closing section 1 name Collection on electronic funds transferAdjusted cash balance per bankOutstanding checksBank service chargeCash balance per bank statementDeposits in transit $Enter a total amount for section one Select an opening section 2 name Deposits in transitAdjusted cash balance per booksCash balance per booksOutstanding checksBank service chargeCollection on electronic funds transfer $Enter a dollar amount Select between addition and deduction AddLess : Select a reconciling item Deposits in transitAdjusted cash balance per booksCash balance per booksOutstanding checksCollection on electronic funds transferBank service charge Enter a dollar amount Enter a subtotal of the two previous amounts Select between addition and deduction LessAdd : Select a reconciling item Adjusted cash balance per booksOutstanding checksDeposits in transitBank service chargeCash balance per booksCollection on electronic funds transfer Enter a dollar amount Select a closing section 2 name Cash balance per booksDeposits in transitOutstanding checksBank service chargeCollection on electronic funds transferAdjusted cash balance per books $Enter a total amount for section two SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the adjusting entries at August 31 on the books of Wildhorse Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 Enter an account title to record electronic funds transfer received by bank on july 31 Enter a debit amount Enter a credit amount Enter an account title to record electronic funds transfer received by bank on july 31 Enter a debit amount Enter a credit amount (To record electronic funds transfer received by bank) July 31 Enter an account title to record bank service charge on july 31 Enter a debit amount Enter a credit amount Enter an account title to record bank service charge on july 31 Enter a debit amount Enter a credit amount (To record bank service charge)

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 5.5.2C

See similar textbooks

Related questions

Concept explainers

Question

The following information pertains to Wildhorse Company.

1.		Cash balance per books, August 31, $7,424.
2.		Cash balance per bank, August 31, $7,388.
3.		Outstanding checks, August 31, $709.
4.		August bank service charge not recorded by the depositor $61.
5.		Deposits in transit, August 31, $3,760.

In addition, $3,076 collected for Wildhorse Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Wildhorse Company.

Prepare a bank reconciliation at August 31, 2022. (List items that increase balance as per bank & books first.)

WILDHORSE COMPANY Bank Reconciliation Choose the accounting period For the Month Ended August 31, 2022For the Year Ended August 31, 2022August 31, 2022
Select an opening section 1 name Adjusted cash balance per bankDeposits in transitBank service chargeCollection on electronic funds transferCash balance per bank statementOutstanding checks		$Enter a dollar amount
Select between addition and deduction LessAdd :	Select a reconciling item Bank service chargeDeposits in transitAdjusted cash balance per bankCash balance per bank statementOutstanding checksCollection on electronic funds transfer		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction AddLess :	Select a reconciling item Collection on electronic funds transferBank service chargeCash balance per bank statementAdjusted cash balance per bankDeposits in transitOutstanding checks		Enter a dollar amount
Select a closing section 1 name Collection on electronic funds transferAdjusted cash balance per bankOutstanding checksBank service chargeCash balance per bank statementDeposits in transit		$Enter a total amount for section one

Select an opening section 2 name Deposits in transitAdjusted cash balance per booksCash balance per booksOutstanding checksBank service chargeCollection on electronic funds transfer		$Enter a dollar amount
Select between addition and deduction AddLess :	Select a reconciling item Deposits in transitAdjusted cash balance per booksCash balance per booksOutstanding checksCollection on electronic funds transferBank service charge		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction LessAdd :	Select a reconciling item Adjusted cash balance per booksOutstanding checksDeposits in transitBank service chargeCash balance per booksCollection on electronic funds transfer		Enter a dollar amount
Select a closing section 2 name Cash balance per booksDeposits in transitOutstanding checksBank service chargeCollection on electronic funds transferAdjusted cash balance per books		$Enter a total amount for section two

SHOW LIST OF ACCOUNTS

LINK TO TEXT

Journalize the adjusting entries at August 31 on the books of Wildhorse Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
July 31	Enter an account title to record electronic funds transfer received by bank on july 31	Enter a debit amount	Enter a credit amount
	Enter an account title to record electronic funds transfer received by bank on july 31	Enter a debit amount	Enter a credit amount
	(To record electronic funds transfer received by bank)
July 31	Enter an account title to record bank service charge on july 31	Enter a debit amount	Enter a credit amount
	Enter an account title to record bank service charge on july 31	Enter a debit amount	Enter a credit amount
	(To record bank service charge)

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.