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 $13,235. The August 31 unadjusted balance in the Cash account of Hall's Cards is $9,223 A review of the bank statement revealed the following information 1. A deposit of $1,040 on August 31, Year 1, does not oppear on the August bank statement 2 t was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $2,955 but was recorded on the books as S3,855. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,250 were found to be outstanding 4. A debit memo for $98 was included in the bank statement for the purchase of a new supply of checks. Required Prepare a bank reconciliation at the end of August showing the true cash balance. (Negative amounts should be indicated with ainue cionl

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 $13,235. The August 31 unadjusted balance in the Cash account of Hall's Cards is $9,223 A review of the bank statement revealed the following information 1. A deposit of $1,040 on August 31, Year 1, does not oppear on the August bank statement 2 t was discovered that a check to pay for baseball cards was correctly written and paid by the bank for $2,955 but was recorded on the books as S3,855. 3. When checks written during the month were compared with those paid by the bank, three checks amounting to $4,250 were found to be outstanding 4. A debit memo for $98 was included in the bank statement for the purchase of a new supply of checks. Required Prepare a bank reconciliation at the end of August showing the true cash balance. (Negative amounts should be indicated with ainue cionl

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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