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enyata [817]
3 years ago
8

The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $9,222. 2. July bank service charge not

recorded by the depositor $53. 3. Cash balance per books, July 31, $9,328. 4. Deposits in transit, July 31, $3,763. 5. $2,120 collected for Crane Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Crane Company. 6. Outstanding checks, July 31, $1,590. Prepare a bank reconciliation at July 31, 2022.
Business
1 answer:
ololo11 [35]3 years ago
4 0

Explanation:

The preparation of bank reconciliation is presented below:

                                        Crane Company

                          Bank reconciliation statement  

                                        July 31, 2022

Particulars                    Amount   Particulars                     Amount

Bank cash balance     $9,222   Company cash balance  $9,328

Deposits in transit       $3,763   Collections                       $2,120

Less: Outstanding                      Less: service fee            -$53

Check                          -$1,590

Bank balance                                   Company balance

After reconciliation    $11,395      After reconciliation  $11,395

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