In the audit of the R.T. Company a large branch that maintains its own bank account,...
points 1. Prepare the bank reconciliation for this company as of July 31. BRANCH COMPANY Print Bank Reconciliation July 31 $ 25,176 Book balance Add: $ 28,240 Bank statement balance Add: 0 0 28,240 25,176 Deduct: Deduct: 0 0 Adjusted bank balance $ 25,176 Adjusted book balance $ 28,240 1 Required information Problem 6-4A Preparing a bank reconciliation and recording adjustments LO P3 [The following information applies to the questions displayed below.) Part 1 of 2 The following information is...
Check my Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Deposits: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 1,900 Checks: 1,500 2,400 3,300 800 $ 9,900 No. 321 322 323 324 325 326 327 Date 2/2 2/8 2/12 2/19 2/27 2/28 2/28 Amount $3,900 550 1,700 1,400...
Oscar’s Red Carpet Store maintains a checking account with Academy Bank. Oscar’s sells carpet each day but makes bank deposits only once per week. The following provides information from the company’s cash ledger for the month ending February 28, 2018. Information from February's bank statement and company records reveals the following additional information: a. The ending cash balance recorded in the bank statement is $13,145. b. Cash receipts of $1,600 from 2/26-2/28 are outstanding. c. Checks 325 and 327...
Oscar’s Red Carpet Store maintains a checking account with Academy Bank. Oscar’s sells carpet each day but makes bank deposits only once per week. The following provides information from the company’s cash ledger for the month ending February 28, 2021. Date Amount No. Date Amount Deposits: 2/4 $ 2,350 Checks: 321 2/2 $ 4,350 2/11 1,950 322 2/8 650 2/18 2,850 323 2/12 2,150 2/25 3,750 324 2/19 1,850 Cash receipts: 2/26-2/28 1,250 325 2/27 450 $ 12,150 326 2/28...
Oscar’s Red Carpet Store maintains a checking account with Academy Bank. Oscar’s sells carpet each day but makes bank deposits only once per week. The following provides information from the company’s cash ledger for the month ending February 28, 2021. Date Amount No. Date Amount Deposits: 2/4 $ 1,850 Checks: 321 2/2 $ 3,850 2/11 1,450 322 2/8 600 2/18 2,350 323 2/12 1,650 2/25 3,250 324 2/19 1,350 Cash receipts: 2/26-2/28 750 325 2/27 400 $ 9,650 326 2/28...
Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Deposits: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 2,450 Checks: 2,050 2,950 3,850 1,350 $ 12,650 No. 321 322 323 324 325 326 327 Date 2/2 2/8 2/12 2/19 2/27 2/28 2/28 Amount $ 4,450 400 2,250 1,950 200...
Oscar’s Red Carpet Store maintains a checking account with Academy Bank. Oscar’s sells carpet each day but makes bank deposits only once per week. The following provides information from the company’s cash ledger for the month ending February 28, 2018. DateAmountNo.DateAmount Deposits: 2/4$ 2,500 Checks:321 2/2$ 4,500 2/112,100 322 2/8550 2/183,000 323 2/122,300 2/253,900 324 2/192,000 Cash receipts: 2/26-2/281,400 325 2/27350 326 2/28850 $ 12,900 327 2/281,700 Balance on February 1$ 6,600 $12,250 Receipts12,900 Disbursements(12,250) Balance on February 28$ 7,250 Information from February's bank statement and company records reveals the following...
Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021 No. Deposits: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 1,950 Checks: 1.550 2.450 3.350 Amount $3,950 400 1,750 Date 321 2/2 322 2/8 3232/12 324 2/19 325 2/27 326 2/28 327 2/28 1.45e Cash receipts: 850 200 780 $10,150...
The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31, 2017.On July 31, the company’s Cash account has a $24,750 debit balance, but its July bank statement shows a $27,341 cash balance.Check No. 3031 for $1,620 and Check No. 3040 for $802 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also,...
Part 2: Record the necessary cash adjustments Oscar's Red Carpet Store maintains a checking account with Academy Bank. Oscar's sells carpet each day but makes bank deposits only once per week. The following provides information from the company's cash ledger for the month ending February 28, 2021. Deposits: Date 2/4 2/11 2/18 2/25 2/26-2/28 Amount $ 2,300 Checks: 1,900 2,800 3,700 1,200 $ 11,900 No. 321 322 323 324 325 Date 2/2 2/8 2/12 2/19 2/27 2/28 2/28 Amount $...