Required Information Problem 6-18A Preparing a bank reconciliation LO 6-3 [The following information applies to the questions displayed below.] Rick Hall owns a card shop: Hall's Cards. The following cash Information is available for the month of August Year 1. As of August 31, the bank statement shows a balance of $13,000. The August 31 unadjusted balance in the Cash account of Hall's Cards is $9,411. A review of the bank statement revealed the following information: 1. A deposit of $1,300 on August 31, Year 1, does not appear on the August bank statement. 2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $1,895 but was recorded on the books as $2,795. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,075 were found to be outstanding. 4. A debit memo for $86 was included in the bank statement for the purchase of a new supply of checks. Problem 6-18A Part a Required a. Prepare a bank reconciliation at the end of August showing the true cash balance. HALL'S CARDS Bank Reconciliation August 31, Year 1 Unadjusted Bank Balance, August 31, Year 1 True Cash Balance, August 31, Year 1 Unadjusted Book Balance, August 31, Year 1 True Cash Balance, August 31, Year 1 $ $ 0 0
Required Information Problem 6-18A Preparing a bank reconciliation LO 6-3 [The following information applies to the questions displayed below.] Rick Hall owns a card shop: Hall's Cards. The following cash Information is available for the month of August Year 1. As of August 31, the bank statement shows a balance of $13,000. The August 31 unadjusted balance in the Cash account of Hall's Cards is $9,411. A review of the bank statement revealed the following information: 1. A deposit of $1,300 on August 31, Year 1, does not appear on the August bank statement. 2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $1,895 but was recorded on the books as $2,795. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,075 were found to be outstanding. 4. A debit memo for $86 was included in the bank statement for the purchase of a new supply of checks. Problem 6-18A Part a Required a. Prepare a bank reconciliation at the end of August showing the true cash balance. HALL'S CARDS Bank Reconciliation August 31, Year 1 Unadjusted Bank Balance, August 31, Year 1 True Cash Balance, August 31, Year 1 Unadjusted Book Balance, August 31, Year 1 True Cash Balance, August 31, Year 1 $ $ 0 0
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.1AP
Related questions
Question
Please do not give image format
![Required Information
Problem 6-18A Preparing a bank reconciliation LO 6-3
[The following information applies to the questions displayed below.]
Rick Hall owns a card shop: Hall's Cards. The following cash Information is available for the month of August Year 1.
As of August 31, the bank statement shows a balance of $13,000. The August 31 unadjusted balance in the Cash account
of Hall's Cards is $9,411. A review of the bank statement revealed the following information:
1. A deposit of $1,300 on August 31, Year 1, does not appear on the August bank statement.
2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $1,895 but was
recorded on the books as $2,795.
3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,075
were found to be outstanding.
4. A debit memo for $86 was included in the bank statement for the purchase of a new supply of checks.
Problem 6-18A Part a
Required
a. Prepare a bank reconciliation at the end of August showing the true cash balance.
HALL'S CARDS
Bank Reconciliation
August 31, Year 1
Unadjusted Bank Balance, August 31, Year 1
True Cash Balance, August 31, Year 1
Unadjusted Book Balance, August 31, Year 1
True Cash Balance, August 31, Year 1
$
$
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F739654ea-7ce4-4097-87e2-32b7d528493b%2F536e2d87-d2ba-4278-91f9-245bafec14fc%2Fshis6s8_processed.png&w=3840&q=75)
Transcribed Image Text:Required Information
Problem 6-18A Preparing a bank reconciliation LO 6-3
[The following information applies to the questions displayed below.]
Rick Hall owns a card shop: Hall's Cards. The following cash Information is available for the month of August Year 1.
As of August 31, the bank statement shows a balance of $13,000. The August 31 unadjusted balance in the Cash account
of Hall's Cards is $9,411. A review of the bank statement revealed the following information:
1. A deposit of $1,300 on August 31, Year 1, does not appear on the August bank statement.
2. It was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $1,895 but was
recorded on the books as $2,795.
3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,075
were found to be outstanding.
4. A debit memo for $86 was included in the bank statement for the purchase of a new supply of checks.
Problem 6-18A Part a
Required
a. Prepare a bank reconciliation at the end of August showing the true cash balance.
HALL'S CARDS
Bank Reconciliation
August 31, Year 1
Unadjusted Bank Balance, August 31, Year 1
True Cash Balance, August 31, Year 1
Unadjusted Book Balance, August 31, Year 1
True Cash Balance, August 31, Year 1
$
$
0
0
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