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3 years ago

(1) Cash balance per bank, July 31, $8,338.

Business

1 answer:

kondaur [170]3 years ago

3 0

Answer:

Cash account balance after reconciliation: 11,340 dollars

Explanation:

On a bank reconciliation we adjust the balance for the unknow information for each party:

Bank: do not know about a written check until the person goes and cash it. Same with the deposit in transet, we must accrued for this values:

Cash balance per bank, July 31, 8,338.

Deposits in transit, July 31, 3,710.

Outstanding checks, July 31 <u> (708) </u>

Adjusted bank cash balance 11,340

The firm is unaware of the bank charges until reception of the bank statement. It also didn't know about the bank colelction so this are adjustment for hte cash account:

Cash balance per books, July 31, 8,374.

Collected for Sandhill Company 3,026

July bank service charge <u> (60) </u>

Adjusted cash account balance: 11,340

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