Concept explainers
To fill: The check register for July 2015 by using given information.
Explanation of Solution
The given data is as follows:
Date | Check Number | Particulars | Amount |
July 7 | Check No. 959 | AT + T | $143.50 |
July 15 | Check No. 960 | Staples | 66.10 |
July 19 | Deposit | 800.00 | |
July 20 | Check No. 961 | West Electric | 451.88 |
July 24 | Check No. 962 | Bank of America | 319.24 |
July 29 | Deposit | 400.30 |
Table 1
It is known that a check Register is a document, or the journal used to record all the checks with their numbers, cash payments and cash outlays during an accounting period.
Note that the account balance before any transaction occurred is $4,500.
From the Table 1, note that during July 7 and July 15 the particulars included are AT+T and staples corresponding to which the amount is debited from the account.
Therefore, deduct the particular amount corresponding to AT+T and staples from the account balance.
Further during July 19, amount is deposited for which the account is credited.
Therefore, add the particular amount of deposit to the balance account.
Continue the same procedure and fill the check register for July 2015 as shown below:
RECORD ALL CHARGES OR CREDITS THAT AFFECT YOUR ACCOUNT | ||||||||||
NUMBER | DATE2015 | DESCRIPTIONOF TRANANSACTION | PAYMENT/DEBIT(−) | √ | FEE(IF ANY)(−) | DEPOSIT/CREDIT(+) | BALANCE | |||
$4,500 | 75 | |||||||||
959 | 7/7 | AT + T | $143 | 50 | $ | $ | – 143 | 50 | ||
4,357 | 25 | |||||||||
960 | 7/15 | Staples | 66 | 10 | – 66 | 10 | ||||
4291 | 15 | |||||||||
7/19 | Deposit | 800 | 00 | + 800 | 00 | |||||
5,091 | 15 | |||||||||
961 | 7/20 | West Electric | 451 | 88 | – 451 | 88 | ||||
4639 | 27 | |||||||||
962 | 7/24 | Bank of America | 319 | 24 | – 319 | 24 | ||||
4320 | 03 | |||||||||
7/19 | Deposit | 400 | 30 | + 400 | 30 | |||||
$4,720 | 33 |
Table 2
Therefore, the check register balance is
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