2013年10月18日星期五

Accounting Help!... Prepare the bank reconciliation as of July 31 & Prepare the necessary adjusting entries at?

  • bank charge refunds
  • the moving company
On July 31, 2012, Fraiser Company had a cash balance per books of $6,306. The statement from Nashota State Bank on that date showed a balance of $7,856.80. A comparison of the bank statement with the Cash account revealed the following facts.


1. The bank service charge for July was $17.

2. The bank collected a note receivable of $1,652 for Fraiser Company on July 15, plus $38 of interest. The bank made a $18 charge for the collection. Fraiser has not accrued any interest on the note.

3. The July 31 receipts of $1,353.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31.

4. Company check No. 2480 issued to T. Crain, a creditor, for $364.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $346.00.

5. Checks outstanding on July 31 totaled $1,994.10.

6. On July 31, the bank statement showed an NSF charge of $727 for a check received by the company from K. Fonner, a customer, on account.


(a) Prepare the bank reconciliation as of July 31.


(b) Prepare the necessary adjusting entries at July 31.

Accounting Help!... Prepare the bank reconciliation as of July 31 & Prepare the necessary adjusting entries at?

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