The following information pertains to DeVries Company.
1. Cash balance per bank, July 31, $7,328.
2. July bank service charge not recorded by the depositor $40.
3. Cash balance per books, July 31, $7,280.
4. Deposits in transit, July 31, $1,700.
5. Note for $1,000 collected for DeVries in July by the bank, plus interest $36 less fee $20.
The collection has not been recorded by DeVries, and no interest has been accrued.
6. Outstanding checks, July 31, $772.
Instructions
(a) Prepare a bank reconciliation at July 31, 2007.
(b) Journalize the adjusting entries at July 31 on the books of DeVries Company.
Click here for solution
1. Cash balance per bank, July 31, $7,328.
2. July bank service charge not recorded by the depositor $40.
3. Cash balance per books, July 31, $7,280.
4. Deposits in transit, July 31, $1,700.
5. Note for $1,000 collected for DeVries in July by the bank, plus interest $36 less fee $20.
The collection has not been recorded by DeVries, and no interest has been accrued.
6. Outstanding checks, July 31, $772.
Instructions
(a) Prepare a bank reconciliation at July 31, 2007.
(b) Journalize the adjusting entries at July 31 on the books of DeVries Company.
Click here for solution
No comments:
Post a Comment