Journal 1: Record the adjusting entry required, if any, related to the July 31 cash balance.
Journal 2: Record the adjusting entry required, if any, related to the outstanding checks.
Journal 3: Record the adjusting entry required, if any, related to Check No. 3056.
Journal 4: Record the adjusting entry required, if any, related to the non-interest-bearing note.
Journal 5: Record the adjusting entry required, if any, related to the NSF check.
Journal 6: Record the adjusting entry required, if any, related to bank service charges.
Journal 7: Record the adjusting entry required, if any, related to the July 31 deposit.
1.
BRANCH COMPANY | |||||
Bank Reconciliation | |||||
At July 31 | |||||
Bank statement balance | 27,738 | Book balance | 25,551 | ||
Add: | Add: | ||||
Deposit of July 31 | 7,632 | Proceeds from note | 6,500 | ||
7,632 | 6,500 | ||||
35,370 | 32,051 | ||||
Less: | Less: | ||||
Outstanding checks: | Bank service charges | 10 | |||
Check no 3031 | 1,440 | NSF Check | 805 | ||
Check no 3031 | 496 | Correction of book error | 10 | ||
Check no 3031 | 2,208 | -825 | |||
-4,144 | |||||
Adjusted bank balance | $31,226 | Adjusted book balance | $31,226 |
2 .
No | General Journal | Debit | Credit |
a | No journal entry required | 0 | |
b | No journal entry required | 0 | |
c | Rent expense | $10 | |
Cash | $10 | ||
( To record book error) | |||
d | No journal entry required | 0 | |
e | Accounts receivable - Evan Shaw | $805 | |
Cash | $805 | ||
( To record NSF check) | |||
f | Miscellaneous expense | $10 | |
Cash | $10 | ||
( To record bank service charges) | |||
g | No journal entry required | 0 |
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Journal 1: Record the adjusting entry required, if any, related to the July 31 cash balance....
The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31. On July 31, the company’s Cash account has a $25,740 debit balance, but its July bank statement shows a $27,575 cash balance. Check No. 3031 for $1,300, Check No. 3065 for $426, and Check No. 3069 for $2,068 are outstanding checks as of July 31. Check No. 3056 for July rent expense was correctly written and...
The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $24,924 debit balance, but its July bank statement shows a $26,832 cash balance. b. Check No. 3031 for $1,330, Check No. 3065 for $441, and Check No. 3069 for $2,098 are outstanding checks as of July 31. c. Check No. 3056 for July rent expense was correctly...
The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31. On July 31, the company’s Cash account has a $25,027 debit balance, but its July bank statement shows a $27,114 cash balance.Check No. 3031 for $1,400, Check No. 3065 for $476, and Check No. 3069 for $2,168 are outstanding checks as of July 31.Check No. 3056 for July rent expense was correctly written and drawn for $1,290 but...
On July 31, the company's Cash account has a $24.866 debt balance, but its Julybank statement shows a $27,224 cash balance Check No. 3031 for $1510, Check No. 3065 for $531, and Check No. 3069 for $2.278 are outstanding checks as of July 31 Check No. 3056 for July rent expense was correctly written and drawn for $1.260 but was erroneously entered in the accounting records as $1,250 d. The July bank statement shows the bank collected $9.500 cash on...
newc FLUTUR DI LUAR UR TIRULIW TR TU RIURI statement cash balance as of July 31 On July 31, the company's Cash account has a $24,866 debit balance, but its Julybank statement shows a $27.224 cash balance. Check No 3031 for SUSI, Check No. 3065 for $53t and Check No 3059 for $2.278 are outstanding checks as of July 31 Check No. 3056 for rent expense was correctly written and drawn for $1260 but was erroneously entered in the accounting...
answer part 1 and 2
part 2
The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,348 debit balance, but its July bank statement shows a $26,912 cash balance b. Check No. 3031 for $1,190, Check No. 3065 for $371, and Check No. 3069 for $1,958 are outstanding checks as of July 31 c. Check No....
Required information
Problem 6-4A Preparing a bank reconciliation and recording
adjustments LO P3
[The following information applies to the questions
displayed below.]
The following information is available to reconcile Branch
Company’s book balance of cash with its bank statement cash balance
as of July 31.
On July 31, the company’s Cash account has a $24,912 debit
balance, but its July bank statement shows a $26,925 cash
balance.
Check No. 3031 for $1,370, Check No. 3065 for $461, and Check...
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,...
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 $25,642 debit
balance, but its July bank statement shows a $27,613 cash
balance.Check No. 3031 for $1,380 and Check No. 3040 for $682 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,...
Required information[The following information applies to the questions
displayed below.]The following information is available to reconcile Branch
Company’s book balance of cash with its bank statement cash balance
as of July 31. On July 31, the company’s Cash account has a $24,906 debit
balance, but its July bank statement shows a $27,589 cash
balance.Check No. 3031 for $1,640, Check No. 3065 for $596, and Check
No. 3069 for $2,408 are outstanding checks as of July 31.Check No. 3056 for July rent...