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joja [24]
3 years ago
7

exercise 4-9A Calculate the balance of cash using a bank reconciliation (LO4-5) Spielberg Company's general ledger shows a check

ing account balance of $22,830 on July 31, 2021. The July cash receipts of $1,745, included in the general ledger balance, are placed in the night depository at the bank on July 31 and processed by the bank on August 1. The bank statement dated July 31 shows bank service fees of $41. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,320. The bank statement shows a balance of $22,364 on July 31.
Business
1 answer:
algol133 years ago
5 0

Answer:

$22,789

Explanation:

One of the uses of the Bank Reconciliation Statement is to check the accuracy of the Cash Balance.

The Balance on the Bank Statement and that of the Cash Book in the Ledgers should always agree.

Bank Reconciliation Statement as a July 31

Balance as per Bank Statement                      $22,364

Add Lodgments not yet credited                       $1,745

Less unpresented checks                                 ($1,320)

Balance as per Cash Book                               $22,789

Therefore,

The balance of cash using a bank reconciliation is $22,789

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