# Problem 4-585 Bank Reconciliation OBJECTIVE o Shortly after 111131 3 l, Towanda Corporation received a bank statement containing the following information: E Dale | Checks | Deposits | Balance 5130 Bag. Balance 5 5,550 '111 $500 5,850 @ '112 51; 2'10 1'. 150 s 330 4.500 9.600 215 25 2,025 2,550 mm“ '115 150 450 1,400 10,000 10,550 '119 1.500 25 325 8.200 '1112 500 100 0,100 '1115 1.000 2,100 5,500 7,500 '1119 '15 425 6.800 2124 550 550 5,500 1129 525* 5,015 2131 25” 5.050 “NSF check (depnsihed in previous period, but withdrawn this period) “Bank service d1arge July cash transactions and balances on Towanda’s records are shown in the following T-account: Cash Balance. H30 S 55% Amount Check C hack Check Check Date Deposited Number Amount Number Amount ‘H l S 300 1'16 55 2'10 [36$ 2.5 ‘1'1’5 4,500 17'! 150 [87 [00 T1115 10,000 178 330 188 500 T120 3,500 1'19 25 189 2.00 ‘1'1‘30 050 180 '1', 025 [90 [.600 Total deposits 5 [9,250 181 150 [91 '1'5 182 45!] [92 42.5 183 1,400 193 550 184 1,500 194 650 185 325 [95 2'15 Balance, 713] 5 6,275 Total disbursements 5 [8,525 Required: L Prepare a bank reconciliation for July. 21 Prepare the adjusting amides made by Towanda Corporation as a result of this reconciliation process. 31 What amount is reported as cash on the balance sheet at July 31?

### Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881

### Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881

#### Solutions

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Chapter 4, Problem 58BPSB
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