Obj.
The cash account for Stone Systems at July Y indicated a balance of $
The bank statement indicated a balance of $ on July Y Comparing the
bank statement and the accompanying 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 $
d A check for $ returned with the statement had been incorrectly recorded
by Stone Systems as $ The check was for the payment of an obligation to
Holland Co for the purchase of office supplies on account.
e A check drawn for $ had been incorrectly charged by the bank as
$
f Bank service charges for July amounted to $
INSTRUCTIONS
Prepare a bank reconciliation.
Journalize the necessary entries.
If a balance sheet were prepared for Stone Systems on July Y what
amount should be reported as cash?
