The following data have been gathered for Syncronics, Inc.: Thė July 31 bank balance was $4,000, b. The bank statement included $65 in servicę charges. a. C. There was an EFT deposit of $900 on the bank statement for the monthly rent from the tenant. d. Checks #541 and #543 for $205 and $320, respectively, were not among the can- celed checks returned with the statement. The July 31 deposit of $350 did not appear on the bank statement. · f. The bookkeeper had erroneously recorded a $50 check as $500. The check was written to a vendor to pay off a debt. g.. Included with the canceled checks was a check written by Syncronize Corporation for $200 which was deducted from Syncronics' account. h. The bank statement also included an NSF check written by Multimedia, Inç, for a $460 payment on account. i. The cash account showed a balance of $3,200 on July 31. Required: 1. Prepare the July 31 bank reconciliation for Syncronics, Inc. ARTiST The Co'r CASH BAIAN

The following data have been gathered for Syncronics, Inc.: Thė July 31 bank balance was $4,000, b. The bank statement included $65 in servicę charges. a. C. There was an EFT deposit of $900 on the bank statement for the monthly rent from the tenant. d. Checks #541 and #543 for $205 and $320, respectively, were not among the can- celed checks returned with the statement. The July 31 deposit of $350 did not appear on the bank statement. · f. The bookkeeper had erroneously recorded a $50 check as $500. The check was written to a vendor to pay off a debt. g.. Included with the canceled checks was a check written by Syncronize Corporation for $200 which was deducted from Syncronics' account. h. The bank statement also included an NSF check written by Multimedia, Inç, for a $460 payment on account. i. The cash account showed a balance of $3,200 on July 31. Required: 1. Prepare the July 31 bank reconciliation for Syncronics, Inc. ARTiST The Co'r CASH BAIAN

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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