Question

On July 31, 2017. Carla Vista Cohada cash balance per books of $6.335.00. The statement from Dakota State Bank on that date showed a balance of $7.885.80 A comparison of the bank statement with the Cash account revealed the following facts 1. The bank service charge for July was $19.00 2. The bank collected $1.715.00 for Carla Vista co through electronic funds transfer 3 The July 31 receipts of $1.39430 were not included in the bank deposits for July. These receipts were deposited by the company in a nighe deposit auton L 4. Company check No 2400 sued to L. Taylor acreditor for $374.00 that cleared the bank in Muly was incorrectly entered in the cash payments record on July 10 for $347.00 5. Checks outstanding on July 31 totale $2.046.10. 6. On July 31. the bank statement showed an NSF charge of 5770.00 for a check received by the company from W Krueger a customer on account

Answer 1

CARLA VISTA Co. Bank Reconciliation July 31, 2017 Cash balance per bank statement Add : Deposits in transit $7,885.80 $1,394.30 $ 9, 280.10 $2,046.10 $ 7,234.00 less li outstanding checks Adjusted cash balance per bank Cash balance per books $6,335.00 Add: Electionic funds transfer received $1,715.00 $8,050.00 less: Bank service charge $ 19.00 NSF check $770.00 Error in recording check No. 2480 $27.00 $ 816.00 Adjusted cash balance per books $7,234.00 Calculation: Error in recording check no. 2480 = $374- $347 - $27