The following information pertains to Pharoah Corporation. Balance per bank, July 31, $8,214. July bank service charge not yet recorded by Pharoah, $25. Balance per books, July 31, $8,580. Deposits in transit, July 31, $2,482. Electronic collection on account (EFT) from a customer, $1,683 not yet recorded by Pharoah. Outstanding cheques, July 31, $858. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bank service charge $40. The charges will be added to the customer's account. 1. 2. 3. 4. 5. 6. 7.
The following information pertains to Pharoah Corporation. Balance per bank, July 31, $8,214. July bank service charge not yet recorded by Pharoah, $25. Balance per books, July 31, $8,580. Deposits in transit, July 31, $2,482. Electronic collection on account (EFT) from a customer, $1,683 not yet recorded by Pharoah. Outstanding cheques, July 31, $858. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bank service charge $40. The charges will be added to the customer's account. 1. 2. 3. 4. 5. 6. 7.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Prepare a bank reconciliation at July 31, 2025. (List items that increase balance as per bank & books first.)
PHAROAH CORPORATION
Bank Reconciliation
$
Transcribed Image Text:The following information pertains to Pharoah Corporation.
1.
2.
3.
4.
5.
6.
7.
Balance per bank, July 31, $8,214.
July bank service charge not yet recorded by Pharoah, $25.
Balance per books, July 31, $8.580.
Deposits in transit, July 31, $2,482.
Electronic collection on account (EFT) from a customer, $1,683 not yet recorded by Pharoah.
Outstanding cheques, July 31, $858.
Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bank service charge.
$40. The charges will be added to the customer's account.
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