The cash account for Etra Co. at June 30 of the current year indicated a balance of $9,870. The bank statement indicated a balance of $11,360 on June 30. Comparing the bank statement, the canceled checks, and the accompanying memorandums with the records a. Checks outstanding totaled $6,870 b. A deposit of 4,200, representing receipts of June 30, had been made too late to appear in the bank statement. c. A check for $1,510 returned with the statement had been recorded by Etra Co. as $270. The check was for the payment of A/P. d. The bank had collected for Etra Co. $1,025 on a note left for collection. The face of the note was $1,000. e. Bank service charges for June amounted to $15. f. The bank recorded a deposit made by Etra for $525 into an account for another bank customer. g. The bank statement indicated an NSF check for $425. prepare bank reconciliation

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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The cash account for Etra Co. at June 30 of the current year indicated a balance of $9,870.
The bank statement indicated a balance of $11,360 on June 30. Comparing the bank
statement, the canceled checks, and the accompanying memorandums with the records
a.	Checks outstanding totaled $6,870

b.	A deposit of 4,200, representing receipts of June 30, had been made too late to
	appear in the bank statement.

c.	A check for $1,510 returned with the statement had been recorded by Etra Co. as $270.
	The check was for the payment of A/P.

d.	The bank had collected for Etra Co. $1,025 on a note left for collection.
	The face of the note was $1,000.

e.	Bank service charges for June amounted to $15.

f.	The bank recorded a deposit made by Etra for $525 into an account for another bank customer.

g.	The bank statement indicated an NSF check for $425.
prepare bank reconciliation

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