Homework Answers
A service charge charged by the bank would appear as a deduction from the Book balance of Cash.
A service charge is charged by the bank and it needs to be accounted in the books of accounts of the company. Hence, it needs to be adjusted against the book balance of cash as deduction. As it is an expense it should be deducted from book balance of cash.
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Using the following information, prepare a bank reconciliation for Ivanhoe Company for July 31, 2022. a. The bank st...
Using the following information, prepare a bank reconciliation
for Ivanhoe Company for July 31, 2022.
a.
The bank statement balance is $3,760.
b.
The cash account balance is $4,200.
c.
Outstanding checks totaled $1,450.
d.
Deposits in transit are $1,780.
e.
The bank service charge is $83.
f.
A check for $85 for supplies was recorded as $58 in the
ledger.
Ivanhoe Company
Bank Reconciliation
For
the Year Ended July 31, 2022For the Month Ended July 31, 2022July
31, 2022...
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Using the following information, prepare a bank reconciliation
for Ivanhoe Company for July 31, 2022.
a.
The bank statement balance is $3,760.
b.
The cash account balance is $4,200.
c.
Outstanding checks totaled $1,450.
d.
Deposits in transit are $1,780.
e.
The bank service charge is $83.
f.
A check for $85 for supplies was recorded as $58 in the
ledger.
Ivanhoe Company
Bank Reconciliation
For
the Year Ended July 31, 2022For the Month Ended July 31, 2022July
31, 2022...
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