The following information is for Crane's Burger Company: Cash balance per bank, July 31. $8,983. July bank service charge not recorded by the depositor, $39. The bank erroneously charged another company's $850 cheque against Crane's Burger's account. Cash balance per books, July 31, $10,716. The bank charged Crane's Burger's account $430 for a customer's NSF cheque. This included a $7 service charge. The company policy is to pass on all NSF charges to the customer. Deposits in transit, July 31, $2,680. Crane's Burger recorded a cath receipt for a cash sale from a customer as $32. The bank correctly recorded it as $23. 1. 2. 3. 4. 5. 6. 7.
The following information is for Crane's Burger Company: Cash balance per bank, July 31. $8,983. July bank service charge not recorded by the depositor, $39. The bank erroneously charged another company's $850 cheque against Crane's Burger's account. Cash balance per books, July 31, $10,716. The bank charged Crane's Burger's account $430 for a customer's NSF cheque. This included a $7 service charge. The company policy is to pass on all NSF charges to the customer. Deposits in transit, July 31, $2,680. Crane's Burger recorded a cath receipt for a cash sale from a customer as $32. The bank correctly recorded it as $23. 1. 2. 3. 4. 5. 6. 7.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Jk. 199.
Transcribed Image Text:The following information is for Crane's Burger Company:
1. Cash balance per bank, July 31. $8,983.
2.
3.
4.
5.
6.
7.
8.
9.
July bank service charge not recorded by the depositor, $39.
The bank erroneously charged another company's $850 cheque against Crane's Burger's account.
Cash balance per books, July 31, $10,716.
The bank charged Crane's Burger's account $430 for a customer's NSF cheque. This included a $7 service charge. The
company policy is to pass on all NSF charges to the customer.
Deposits in transit, July 31, $2,680,
Crane's Burger recorded a cash receipt for a cash sale from a customer as $32. The bank correctly recorded it as $23.
The bank collected a $1,530 note for Crane's Burger in July, plus interest of $44, less a fee of $24. The collection has not been
recorded by Crane's Burger and no interest has been accrued.
Outstanding cheques, July 31, $725.
Date
July 31
July 31
Account Titles and Explanation
Bank Charges Expense
(To record the bank service charge, deposit error, and NSF
cheque.)
(To record the collection of the note.)
Debit
Credit
0000
100
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