July bank service charge15 july nsf check from a

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July bank service charge15- July NSF check from a customer, returned by the bank (recorded by bank as a charge)335- Instructions (a) Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance. (For multiple entries, list in order of magnitude. List all amounts as positive amounts and subtract where necessary.) Angela Lansbury Company Bank Reconciliation July 31 Balance per bank statement, July 31 $ 8,650 Add: Deposit Transit2,150 Deduct: Outstanding Check900 Correct cash balance, July 31$ 9,900 Balance per books, July 31$ 9,250 Add: Note Correction1,000 Less: Service Charge$ 15 NSF335 350 Corrected cash balance, July 31$ 9,900 Angela Lansbury Company Bank Reconciliation July 31 Balance per bank statement, July 31 $8,650 Add: Deposits in transit $2,350 Less: Outstanding checks ($1,100) Correct cash balance, July 31 $9,900 Balance per books, July 31 $9,250 Add: Collection of note $1,000 Less: Bank service charge $ 15 Less: NSF check 335 ($350)
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Corrected cash balance, July 31 $9,900 (b) Prepare the general journal entry or entries to correct the Cash account. (For multiple debit/credit entries, list in order of magnitude.) Cash $650 Office Expenses—Bank Service Charge $15 Accounts Receivable $335 Notes Receivable $1,000
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  • Spring '12
  • ALL
  • Revenue, Cheque, Generally Accepted Accounting Principles, note receivable

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