Bank reconciliation and entries canceled checks and memos with the records reveals the following reconciling items:
a Checks outstanding totaled $
b A deposit of $ representing receipts of July had been made too late to appear on the bank statement.
c The bank had collected $ on a note left for collection. The face of the note was $
e A check drawn for $ had been incorrectly charged by the bank as $
f Bank service charges for July amounted to $
Required:
Prepare a bank reconciliation.
Journalize the necessary entries athat increase cash and b that decrease cash. The accounts have not been closed. If an amount box does no require an entry, leave it blank.
Y July
July
If a balance sheet were prepared for Stone Systems on July Y what amount should be reported as cash?
