The following information relates to Cullumber Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $24,490. During the month of July, Cullumber recorded cash receipts of $27,680 and cash payments of $31,200 in the general ledger Cash account. An examination of the company's July bank statement shows a balance of $24, 446 on July 31 ; outstanding cheques $4, 580; deposits in transit $1,880; EFT collections on account that were not yet recorded on the books $2,700; NSF cheque NSF fee $64; and bank service charges $120. Determine the cash balance per Cullumber Limited's books. Cash balance Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.) CULLUMBER LIMITED Bank Reconciliation July 31

The following information relates to Cullumber Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $24,490. During the month of July, Cullumber recorded cash receipts of $27,680 and cash payments of $31,200 in the general ledger Cash account. An examination of the company's July bank statement shows a balance of $24, 446 on July 31 ; outstanding cheques $4, 580; deposits in transit $1,880; EFT collections on account that were not yet recorded on the books $2,700; NSF cheque NSF fee $64; and bank service charges $120. Determine the cash balance per Cullumber Limited's books. Cash balance Prepare the bank reconciliation at July 31. (List items that increase balance as per bank & books first.) CULLUMBER LIMITED Bank Reconciliation July 31

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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In the process of reconciling Marks Enterprises' bank statement for September, Mr. Marks compiles the following information: Cash balance per company books on September 30 $ 6,270 Deposits in transit at month-end $ 1,310 Outstanding checks at month-end $ 630 Bank charge for printing new checks $ 50 Note receivable and interest collected by bank on Marks' behalf $ 760 A check given to Marks during the month by a customer is returned by the bank as NSF $490. The adjusted cash balance per the books on September 30 is: a. $6,980. b. $6,490. c. $4,550. d. $5,830. e. $8,150.
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