The following information is for Cullumber Ltd. in July: 1. Cash balance per bank, July 31, $12,644 Cash balance per books, July 31, $11,010 Bank service charge, $54 Deposits in transit, $2,314 Electronic receipts from customers in payment of their accounts, $1,500, not previously recorded by the company Outstanding cheques, $2,802 EFT payment of $660 for utilities, not previously recorded by the company Cheque # 373 was correctly written in the amount of $150 but was incorrectly recorded by the company's bookkeeper as $510. The cheque was written to buy supplies. 2. 3. 4. 5. 6. 7. 8. (a) ▷ Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.)
The following information is for Cullumber Ltd. in July: 1. Cash balance per bank, July 31, $12,644 Cash balance per books, July 31, $11,010 Bank service charge, $54 Deposits in transit, $2,314 Electronic receipts from customers in payment of their accounts, $1,500, not previously recorded by the company Outstanding cheques, $2,802 EFT payment of $660 for utilities, not previously recorded by the company Cheque # 373 was correctly written in the amount of $150 but was incorrectly recorded by the company's bookkeeper as $510. The cheque was written to buy supplies. 2. 3. 4. 5. 6. 7. 8. (a) ▷ Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following information is for Cullumber Ltd. in July:
1.
2.
3.
4.
5.
6.
7.
8.
(a)
Cash balance per bank, July 31, $12,644
Cash balance per books, July 31, $11,010
Bank service charge, $54
Deposits in transit, $2,314
Electronic receipts from customers in payment of their accounts, $1,500, not previously recorded by the company
Outstanding cheques, $2,802
EFT payment of $660 for utilities, not previously recorded by the company
Cheque #373 was correctly written in the amount of $150 but was incorrectly recorded by the company's bookkeeper as
$510. The cheque was written to buy supplies.
Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.)
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