Concept explainers
1.
To prepare: Bank reconciliation of B Company as at July 31, 2017.
2.
To prepare: Journal entries to bring the company’s book balance of cash into conformity with the reconciled cash balance as of July 31, 2017.
a.
To explain: effect on (i) the adjusted bank statement cash balance and (ii) the adjusted
b.
To explain: effect on (i) the adjusted bank statement cash balance and (ii) the adjusted cash account book balance related to the bank’s collection of $8,000 less collection fee which is added to the bank statement cash balance on the reconciliation.

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Chapter 6 Solutions
CONNECT PLUS-FINANCIAL & MANAGERIAL AC
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