Question

Nancy Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records. June 30 Bank Reconciliation Balance per bank $23,800 Add: Deposits in transit 5,236 Deduct: Outstanding checks (6,800 ) Balance per books $22.236 Month of July Results Per Bank Per Books Balance July 31 $29,410 $31,450 July deposits 15,300 19,754 July checks 13,600 10,540 July note collected (not included in July deposits) 5,100 July bank service charge 51 July NSF check from a customer, returned by the bank (recorded by bank as a charge) 1,139

Answer 1

Answer: Nancy lansbury company Bank Reconciliation - July 31 Balance per statement, Jualyzn $ 29,410 Add. Diposity in transit $9,690 (5,236 +19,754-15,300) Less: outstanding cheeks ($3,740) 6,800-13600+10,540) Correct Cash balance, July 31 $35,360 Balance per books , July 31 | Add. Collection of note Less: Bourk service charge Less: NSF Check $31,450 $5100 ($51) ($1139) Corrected cash balance , July 31 $ 35,360