Write Company deposits all cash reciepts on the day when they are recevied and it...
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Write Company deposits all cash reciepts on the day when they are recevied and it makes all cash payments by check.
Wright Company deposits all cash receipts on the day when they are receved and It makes all cash payments by check. At the close of business on May 31, 2017, its Cash account shows a $29,300 debit balance. The company's May 31 bank statement shows $27600 on deposit in the bank a. The May 31 bank statement lists $190 in bank service charges, the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,500 c. May 31 cash receipts of $7100 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement d. In reviewing the bank statement, a $490 check written by Smith Company was mistakenly drawn against Wright's account e The bank statement shows a $420 NSF check from a customer, the company has not yet recorded this NSF check. Prepare a bank reconciliation for the company using the above information WRIGHT COMPANY Bank Reconciliation May 31, 2017 Bank statement balance Book balance Add Add Deduct Deduct Adjusted book balance Adjusted bank balance
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