Question

The following information pertains to Cullumber Company.

1.		Cash balance per bank, July 31, $7,988.
2.		July bank service charge not recorded by the depositor $53.
3.		Cash balance per books, July 31, $8,024.
4.		Deposits in transit, July 31, $3,360.
5.		$2,676 collected for Cullumber Company in July by the bank through electronic funds transfer. The collection has not been recorded by Cullumber Company.
6.		Outstanding checks, July 31, $701.

repare a bank reconciliation at July 31, 2017. (List items that increase balance as per bank & books first.)

CULLUMBER COMPANY Bank Reconciliation Choose the accounting period                                                                      July 31, 2017For the Month Ended July 31, 2017For the Year Ended July 31, 2017
Select an opening section 1 name                                                                      Deposits in transitOutstanding checksCash balance per bank statementElectronic funds transfer receivedBank service chargeAdjusted cash balance per bank			$Enter a dollar amount
Select between addition and deduction                                                                      AddLess:	Select a reconciling item                                                                      Deposits in transitAdjusted cash balance per bankElectronic funds transfer receivedOutstanding checksCash balance per bank statementBank service charge		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction                                                                      LessAdd:	Select a reconciling item                                                                      Cash balance per bank statementBank service chargeOutstanding checksDeposits in transitAdjusted cash balance per bankElectronic funds transfer received		Enter a dollar amount
Select a closing section 1 name                                                                      Outstanding checksAdjusted cash balance per bankCash balance per bank statementBank service chargeElectronic funds transfer receivedDeposits in transit			$Enter a total amount for section one
Select an opening section 2 name                                                                      Adjusted cash balance per booksCash balance per booksOutstanding checksBank service chargeElectronic funds transfer receivedDeposits in transit			$Enter a dollar amount
Select between addition and deduction                                                                      AddLess:	Select a reconciling item                                                                      Cash balance per booksDeposits in transitAdjusted cash balance per booksOutstanding checksBank service chargeElectronic funds transfer received		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction                                                                      AddLess:	Select a reconciling item                                                                      Adjusted cash balance per booksBank service chargeCash balance per booksOutstanding checksElectronic funds transfer receivedDeposits in transit		Enter a dollar amount
Select a closing section 2 name                                                                      Electronic funds transfer receivedAdjusted cash balance per booksCash balance per booksBank service chargeDeposits in transitOutstanding checks			$Enter a total amount for section two

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List of Accounts

Answer 1

Bank Reconciliation Statement
For the month ended July 31, 2017
Cash Balance as per Bank Statement, July 31	7988
Add: Deposit in Transit	3360
	11348
Less: Outstanding Checks	701
Adjusted Cash Balance	10647
Cash Balance as per Books, July 31	8024
Add: Amount collected through EFT	2676
	10700
Less: Bank Service Charge	53
Adjusted Cash Balance	10647