Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information:
| Balance, July 1, 2021 | $ | 57,803 | |
| Deposits | 181,200 | ||
| Checks processed | (194,310 | ) | |
| Service charges | (60 | ) | |
| NSF checks | (2,050 | ) | |
| Monthly payment on note, deducted directly by bank from account (includes $170 in interest) | (4,170 | ) | |
| Balance, July 31, 2021 | $ | 38,413 | |
The company’s general ledger account had a balance of $41,313 at the end of July. Deposits outstanding totaled $8,000 and all checks written by the company were processed by the bank except for those totaling $8,590. In addition, a $3,700 July deposit from a credit customer was recorded as a $370 debit to cash and credit to accounts receivable, and a check correctly recorded by the company as a $60 disbursement was incorrectly processed by the bank as a $600 disbursement.
Required:
1. Prepare a bank reconciliation for the month of July.
2. Prepare the necessary journal entries at the end of July to adjust the general ledger cash account
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Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information
Question 9 (of 15) Harrison Company maintains a checking account at the First National City Bank....
Question 9 (of 15) Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2016 bank statement included the following information: Balance, July 1, 2016 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account S 57,803 181,200 (194,310) (60) (includes $170 in interest) 4,170) 38,413 Balance, July 31, 2016 The company's general...
Exercise 7-34 (Algo) Bank reconciliation and adjusting entries (Appendix 7A) points Harrison Company maintains a checking...
Exercise 7-34 (Algo) Bank reconciliation and adjusting entries (Appendix 7A) points Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information: Skipped Balance, July 1, 2021 Deposits Checks processed Service charges NSF checks Monthly payment on note, deducted directly by bank from account (includes $170 in interest) Balance, July 31, 2021 $...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information: Balance, July 1, 2021 Deposita Checks processed Service charges NSF checks Monthly payment on note, deducted directly by bank from account (includes $870 in interest) Balance, July 31, 2021 $ 56,103 180.400 (193,510) (75) (1,650) (3.770) The company's general ledger account had...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2018 bank statement included the following information: Balance, July 1, 2018 $ 57,553 Deposits 181,000 Checks processed (194,110 ) Service charges (50 ) NSF checks (1,950 ) Monthly loan payment deducted directly by bank from account (includes $370 in interest) (4,070 ) Balance, July 31, 2018 $ 38,373 The...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2018 bank statement included the following information: Balance, July 1, 2018 $ 58,178 Deposits 181,500 Checks processed (194,610 ) Service charges (75 ) NSF checks (2,200 ) Monthly loan payment deducted directly by bank from account (includes $320 in interest) (4,320 ) Balance, July 31, 2018 $ 38,473 The...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2018 bank statement included the following information: Balance, July 1, 2018 $ 56,928 Deposits 180,500 Checks processed (193, 610) Service charges (80) NSF checks (1,700) Monthly loan payment deducted directly by bank from account (3,820) (includes $720 in interest) Balance, July 31, 2018 $ 38,218 The company's general ledger...
The Fitzgerald Company maintains a checking account at the Bank of the North. The bank provides...
The Fitzgerald Company maintains a checking account at the Bank of the North. The bank provides a bank statement along with canceled checks on the last day of each month. The October 31, 2016, bank statement included the following information: Balance, October 1, 2016 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account (includes $440 in interest) $ 32,730 88,000 (77,200) (390) (1,640) (3,840) Balance, October 31, 2016 $ 37,660 The company's general...
El Gato Painting Company maintains a checking account at American Bank, Bank statements are prepared at...
El Gato Painting Company maintains a checking account at American Bank, Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: $3,231 1,200 Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 #380 #381 #382 Adjusted balance per bank, November 30 $123 201 56 86 340 (806) $3,625 The company's general ledger checking account showed the following for December: Balance, December 1 Receipts Disbursements...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: $3,331 1,300 Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 #380 #381 #382 Adjusted balance per bank, November 30 $ 133 211 96 440 (946) $3,685 The company's general ledger checking account showed the following for December: Balance, December 1 Receipts Disbursements...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at...
El Gato Painting Company maintains a checking account at
American Bank. Bank statements are prepared at the end of each
month. The November 30, 2021, reconciliation of the bank balance is
as follows:
Balance per bank, November 30
$
3,241
Add: Deposits outstanding
1,210
Less: Checks outstanding
#363
$
124
#365
202
#380
57
#381
87
#382
350
(820
)
Adjusted balance per bank, November 30
$
3,631
The company’s general ledger checking account showed the following
for December:
Balance,...
Question 9 (of 15) Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2016 bank statement included the following information: Balance, July 1, 2016 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account S 57,803 181,200 (194,310) (60) (includes $170 in interest) 4,170) 38,413 Balance, July 31, 2016 The company's general...
Exercise 7-34 (Algo) Bank reconciliation and adjusting entries (Appendix 7A) points Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information: Skipped Balance, July 1, 2021 Deposits Checks processed Service charges NSF checks Monthly payment on note, deducted directly by bank from account (includes $170 in interest) Balance, July 31, 2021 $...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2021 bank statement included the following information: Balance, July 1, 2021 Deposita Checks processed Service charges NSF checks Monthly payment on note, deducted directly by bank from account (includes $870 in interest) Balance, July 31, 2021 $ 56,103 180.400 (193,510) (75) (1,650) (3.770) The company's general ledger account had...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2018 bank statement included the following information: Balance, July 1, 2018 $ 56,928 Deposits 180,500 Checks processed (193, 610) Service charges (80) NSF checks (1,700) Monthly loan payment deducted directly by bank from account (3,820) (includes $720 in interest) Balance, July 31, 2018 $ 38,218 The company's general ledger...
The Fitzgerald Company maintains a checking account at the Bank of the North. The bank provides a bank statement along with canceled checks on the last day of each month. The October 31, 2016, bank statement included the following information: Balance, October 1, 2016 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account (includes $440 in interest) $ 32,730 88,000 (77,200) (390) (1,640) (3,840) Balance, October 31, 2016 $ 37,660 The company's general...
El Gato Painting Company maintains a checking account at American Bank, Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: $3,231 1,200 Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 #380 #381 #382 Adjusted balance per bank, November 30 $123 201 56 86 340 (806) $3,625 The company's general ledger checking account showed the following for December: Balance, December 1 Receipts Disbursements...
El Gato Painting Company maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The November 30, 2021, reconciliation of the bank balance is as follows: $3,331 1,300 Balance per bank, November 30 Add: Deposits outstanding Less: Checks outstanding #363 #365 #380 #381 #382 Adjusted balance per bank, November 30 $ 133 211 96 440 (946) $3,685 The company's general ledger checking account showed the following for December: Balance, December 1 Receipts Disbursements...
El Gato Painting Company maintains a checking account at
American Bank. Bank statements are prepared at the end of each
month. The November 30, 2021, reconciliation of the bank balance is
as follows:
Balance per bank, November 30
$
3,241
Add: Deposits outstanding
1,210
Less: Checks outstanding
#363
$
124
#365
202
#380
57
#381
87
#382
350
(820
)
Adjusted balance per bank, November 30
$
3,631
The company’s general ledger checking account showed the following
for December:
Balance,...
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