Barbara Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records. June 30 Bank Reconciliation Balance per bank   $12,600   Add: Deposits in transit   2,772   Deduct: Outstanding checks   (3,600 ) Balance per books   $11,772   Month of July Results     Per Bank   Per Books Balance July 31   $15,570   $16,650 July deposits   8,100   10,458 July checks   7,200   5,580 July note collected (not included in July deposits)   2,700     July bank service charge   27     July NSF check from a customer, returned by the bank (recorded by bank as a charge)   603                   Your answer is partially correct.  Try again.     Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Exercise 7-24

Barbara Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.

June 30 Bank Reconciliation
Balance per bank
 
$12,600
 
Add: Deposits in transit
 
2,772
 
Deduct: Outstanding checks
 
(3,600
)
Balance per books
 
$11,772
 

Month of July Results
   
Per Bank
 
Per Books
Balance July 31
  $15,570   $16,650
July deposits
  8,100   10,458
July checks
  7,200   5,580
July note collected (not included in July deposits)
  2,700    
July bank service charge
  27    
July NSF check from a customer, returned by the bank (recorded by bank as a charge)
  603    
 
 
 
 
 
 
  Your answer is partially correct.  Try again.
   
Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.

BARBARA LANSBURY COMPANY
Bank Reconciliation
July 31
select an opening name for section one
 
 
     
$enter a dollar amount
 
select between addition and deduction
 
 
:
select a reconciling item
 
 
     
enter a dollar amount
 
select between addition and deduction
 
 
:
select a reconciling item
 
 
     
enter a dollar amount
 
select a closing name for section one
 
 
     
$enter a total amount for section one
 
           
select an opening name for section two
 
 
     
$
 
select between addition and deduction
 
 
:
select a reconciling item
 
 
     
enter a dollar amount
 
select between addition and deduction
 
 
:
         
 
select a reconciling item
 
 
 
$enter a dollar amount
 
   
 
select a reconciling item
 
 
 
enter a dollar amount
 
   
         
enter a subtotal of the two previous amounts
 
select a closing name for section two
 
 
     
$enter a total amount for section two
 
 
 

Show List of Accounts
Link to Text
 
 
 
 
  Your answer is partially correct.  Try again.
   
Prepare the general journal entry to correct the Cash account. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Account Titles and Explanation
Debit
Credit
enter an account title
 
enter a debit amount
 
enter a credit amount
 
enter an account title
 
enter a debit amount
 
enter a credit amount
 
enter an account title
 
enter a debit amount
 
enter a credit amount
 
enter an account title
 
enter a debit amount
 
enter a credit amount
 
 

 

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