Question

The following information pertains to Oriole Video Company. 1. 2. 3. 4. Cash balance per bank, July 31, $7,783. July bank service charge not recorded by the depositor $34. Cash balance per books, July 31, $7,804. Deposits in transit, July 31, $1,760. Bank collected $1,160 note for Oriole in July, plus interest $42, less fee $26. The collection has not been recorded by Oriole, and no interest has been accrued. Outstanding checks, July 31, $597. 5. 6. (a) Prepare a bank reconciliation at July 31. (List items that increase cash balance first.) ORIOLE VIDEO COMPANY Bank Reconciliation For the Month Ended July 31 - Adjusted cash balance per bank $ 7783 Add : Deposits in transit 1760 -597 Less : Outstanding checks A Adjusted cash balance per bank $ Cash balance per books $ 7804 Add : Collection of note receivable 1176 Less : Bank service charge Adjusted cash balance per books $

Answer 1

Answer

Orivole Video Comppany Bank Reconciliation For the month Ended July 31 Bank Balance as per Bank Add Deposit in Transit 7783 1760 9543 597 Less Outstanding Checks Adjusted Bank Balance as per Bank 8946 7804 Cash Balance as per Book Add Collection Not Receivable 1176 8980 34 Less Bank Service Charges Adjusted Cash Balance as per Book 8946

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