[The following information applies to the questions displayed below.] Organic Food Company's Cash account shows a $6,300 debit balance and its bank statement shows $5,720 on deposit at the close of business on August 31. a. August 31 cash receipts of $2,040 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $200 NSF check from a customer; the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $1,920. d. In reviewing the bank statement, an $160 check written by Organic Fruits was mistakenly drawn against Organic Food's account. e. The August 31 bank statement lists $100 in bank service charges; the company has not yet recorded the cost of these services.
[The following information applies to the questions displayed below.] Organic Food Company's Cash account shows a $6,300 debit balance and its bank statement shows $5,720 on deposit at the close of business on August 31. a. August 31 cash receipts of $2,040 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $200 NSF check from a customer; the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $1,920. d. In reviewing the bank statement, an $160 check written by Organic Fruits was mistakenly drawn against Organic Food's account. e. The August 31 bank statement lists $100 in bank service charges; the company has not yet recorded the cost of these services.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Hurry up and solve it because the timer is at 28 min
![[The following information applies to the questions
displayed below.]
Organic Food Company's Cash account shows a $6,300
debit balance and its bank statement shows $5,720 on
deposit at the close of business on August 31.
a. August 31 cash receipts of $2,040 were placed in the
bank's night depository after banking hours and were not
recorded on the August 31 bank statement.
b. The bank statement shows a $200 NSF check from a
customer; the company has not yet recorded this NSF
check.
c. Outstanding checks as of August 31 total $1,920.
d. In reviewing the bank statement, an $160 check written
by Organic Fruits was mistakenly drawn against Organic
Food's account.
e. The August 31 bank statement lists $100 in bank service
charges; the company has not yet recorded the cost of
these services.
Prepare a bank reconciliation using the above information.
ORGANIC FOOD COMPANY
Bank Reconciliation
August 31
Bank statement balance
Add:
Deduct:
Adjusted bank balance
$
0
0
Book balance
Add:
Deduct:
0
0 Adjusted book balance](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8ecd359e-4192-4dae-9b3b-d05bb50df77b%2F28ee3c1f-e723-46cb-8bb2-5459add91e58%2Flfv95we_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions
displayed below.]
Organic Food Company's Cash account shows a $6,300
debit balance and its bank statement shows $5,720 on
deposit at the close of business on August 31.
a. August 31 cash receipts of $2,040 were placed in the
bank's night depository after banking hours and were not
recorded on the August 31 bank statement.
b. The bank statement shows a $200 NSF check from a
customer; the company has not yet recorded this NSF
check.
c. Outstanding checks as of August 31 total $1,920.
d. In reviewing the bank statement, an $160 check written
by Organic Fruits was mistakenly drawn against Organic
Food's account.
e. The August 31 bank statement lists $100 in bank service
charges; the company has not yet recorded the cost of
these services.
Prepare a bank reconciliation using the above information.
ORGANIC FOOD COMPANY
Bank Reconciliation
August 31
Bank statement balance
Add:
Deduct:
Adjusted bank balance
$
0
0
Book balance
Add:
Deduct:
0
0 Adjusted book balance
![g information applies to the questions
low.]
1 Company's Cash account shows a $6,300
e and its bank statement shows $5,720 on
e close of business on August 31.
cash receipts of $2,040 were placed in the
ht depository after banking hours and were not
on the August 31 bank statement.
statement shows a $200 NSF check from a
the company has not yet recorded this NSF
ng checks as of August 31 total $1,920.
ig the bank statement, an $160 check written
> Fruits was mistakenly drawn against Organic
count.
it 31 bank statement lists $100 in bank service
he company has not yet recorded the cost of
ices.
reconciliation using the above information.
ORGANIC FOOD COMPANY
Bank Reconciliation
August 31
e
$
0
0
Book balance
Add:
Deduct:
0
0 Adjusted book balance
$
0
0
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8ecd359e-4192-4dae-9b3b-d05bb50df77b%2F28ee3c1f-e723-46cb-8bb2-5459add91e58%2Fgpmiffl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:g information applies to the questions
low.]
1 Company's Cash account shows a $6,300
e and its bank statement shows $5,720 on
e close of business on August 31.
cash receipts of $2,040 were placed in the
ht depository after banking hours and were not
on the August 31 bank statement.
statement shows a $200 NSF check from a
the company has not yet recorded this NSF
ng checks as of August 31 total $1,920.
ig the bank statement, an $160 check written
> Fruits was mistakenly drawn against Organic
count.
it 31 bank statement lists $100 in bank service
he company has not yet recorded the cost of
ices.
reconciliation using the above information.
ORGANIC FOOD COMPANY
Bank Reconciliation
August 31
e
$
0
0
Book balance
Add:
Deduct:
0
0 Adjusted book balance
$
0
0
0
0
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