Question

Exercise 219 The bank statement for Adcock Company indicates a balance of S transactions for the company an July 31. The cash balance books had a balance of $390 on the date. The followinmate s the bank 1. 2. 3. 4. 5. Deposit of $40, representing cash receipt of July 31, did not appear on the bank statement Outstanding checks totaled $390. Bank service charges for lune amounted to 530 The bank collected a note receivable for the company for $1.200 plus $48 Interest revenue ANSF check for $328 from a customer was returned with the statement

Answer 1

Page No - O Answer Bank Reconcilation praticlalar's cash balance Pev bank Add mora, Add Deposit in transt less outstanding checks Amount $ 830 840 $ 1670 ($ 390) Adjusted cash belonce per books % 1980 cash balance Pex books $ 390 Add $ 1200 vole collected by Bank plus intenst of % 48 81248 $1638 less Bank service charge 30 NSF check 398 $358) Adjusted cash baionce per books $ 1280 In above, Note collect plus interest = 1200 +48 = 1248

Page No - Bank service charge plos Nf check = 30 + 328 = 358 Adiasting Entries On July 3ist cash = 1200+48 = 1248 Note receivable = 1200 interest relienve = 48 on july 31st Accoont receivable - 328 cash 3a8 on July 3104 miscelloncois expenses = 30 cash = 30

Page No - 3 f Particular's Amount by Amonka $ 1946 cash (1200+48) 8/200 July 31st Nole Receivoble Interest Revenue 328 July 31st Account receivable cash 308 30 Joly 31SH Miscellancou sH miscellancous expenses cash 30