On July 31, 2022, Ivanhoe Company had a cash balance per books of $6,310.00. The statement from Dakota State Bank on that date showed a balance of $7,860.80. A comparison of the bank statement with the Cash account revealed the following facts. The bank service charge for July was $18.00. The bank collected $1,690.00 for Ivanhoe Company through electronic funds transfer. The July 31 cash receipts of $1,370.30 were not included in the bank statement for July. These receipts were deposited by the company in a night deposit vault on July 31. 1. 2. 3. Company check No. 2480 issued to L. Taylor, a creditor, for $354.00 that cleared the bank in July was incorrectly recorded as a cash payment on July 10 for $345.00. Checks outstanding on July 31 totaled $2,003.10. On July 31, the bank statement showed an NSF charge of $745.00 for a check received by the company from W. Krueger, a- 4. 5. 6. customer, on account. (a) Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first. Round answers to 2 decimal places, e.g. 52.75.)

FINANCIAL ACCOUNTING
10th Edition
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Chapter1: Financial Statements And Business Decisions
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On July 31, 2022, Ivanhoe Company had a cash balance per books of $6,310.00. The statement from Dakota State Bank on that
date showed a balance of $7,860.80. A comparison of the bank statement with the Cash account revealed the following facts.
The bank service charge for July was $18.00.
The bank collected $1,690.00 for Ivanhoe Company through electronic funds transfer.
The July 31 cash receipts of $1,370.30 were not included in the bank statement for July. These receipts were deposited by
the company in a night deposit vault on July 31.
1.
2.
3.
Company check No. 2480 issued to L. Taylor, a creditor, for $354.00 that cleared the bank in July was incorrectly recorded
as a cash payment on July 10 for $345.00.
Checks outstanding on July 31 totaled $2,003.10.
On July 31, the bank statement showed an NSF charge of $745.00 for a check received by the company from W. Krueger, a-
4.
5.
6.
customer, on account.
(a)
Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first. Round answers to 2 decimal
places, e.g. 52.75.)
Transcribed Image Text:On July 31, 2022, Ivanhoe Company had a cash balance per books of $6,310.00. The statement from Dakota State Bank on that date showed a balance of $7,860.80. A comparison of the bank statement with the Cash account revealed the following facts. The bank service charge for July was $18.00. The bank collected $1,690.00 for Ivanhoe Company through electronic funds transfer. The July 31 cash receipts of $1,370.30 were not included in the bank statement for July. These receipts were deposited by the company in a night deposit vault on July 31. 1. 2. 3. Company check No. 2480 issued to L. Taylor, a creditor, for $354.00 that cleared the bank in July was incorrectly recorded as a cash payment on July 10 for $345.00. Checks outstanding on July 31 totaled $2,003.10. On July 31, the bank statement showed an NSF charge of $745.00 for a check received by the company from W. Krueger, a- 4. 5. 6. customer, on account. (a) Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first. Round answers to 2 decimal places, e.g. 52.75.)
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