Roper Electronics received its bank statement for the month of August with an ending balance of $11,740. Roper determined that check #613 for $155 and check #601 for $420 were both outstanding. Also, a $6,900 deposit for August 30 vas in transit as of the end of the month. Northern Regional Bank also collected a $5,000 notes receivable on August 1 that was issued March 1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the collection service. The bank statement reveals a bank service charge of $20. A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938. Prepare a bank/account reconciliation and any necessary journal entries for the reconciliation. Roper Electronics Bank Reconciliation Cash balance according to bank statement Adjusted balance Cash balance according to Roper Electronics Adjusted balance
Roper Electronics received its bank statement for the month of August with an ending balance of $11,740. Roper determined that check #613 for $155 and check #601 for $420 were both outstanding. Also, a $6,900 deposit for August 30 vas in transit as of the end of the month. Northern Regional Bank also collected a $5,000 notes receivable on August 1 that was issued March 1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the collection service. The bank statement reveals a bank service charge of $20. A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938. Prepare a bank/account reconciliation and any necessary journal entries for the reconciliation. Roper Electronics Bank Reconciliation Cash balance according to bank statement Adjusted balance Cash balance according to Roper Electronics Adjusted balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Roper Electronics received its bank statement for the month of August with an ending balance of
$11,740. Roper determined that check #613 for $155 and check #601 for $420 were both
outstanding. Also, a $6,900 deposit for August 30 was in transit as of the end of the month.
Northern Regional Bank also collected a $5,000 notes receivable on August 1 that was issued March
1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the collection service. The
bank statement reveals a bank service charge of $20. A customer check for $68 vas returned with
the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938.
Prepare a bank/account reconciliation and any necessary journal entries for the reconciliation.
Roper Electronics
Bank Reconciliation
Cash balance according to bank statement
Adjusted balance
Cash balance according to Roper Electronics
Adjusted balance

Transcribed Image Text:Record the entry to increase cash first. For a compound transaction, If an amount box does not
require an entry, leave it blank.
Aug. 31
Aug. 31
Aug. 31
Aug. 31
0 00
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