The following information is available to reconcile Clark Company’s book balance of cash with its bank statement cash balance as of July 31, 2011.
a.
On July 31, the company’s Cash account has a $26,193 debit balance, but its July bank statement shows a $28,020 cash balance.
b.
Check No. 3031 for $1,380 and Check No. 3040 for $552 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $336 and Check No. 3069 for $2,148, both written in July, are not among the canceled checks on the July 31 statement.
c.
In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that Check No. 3056 for July rent was correctly written and drawn for $1,250 but was erroneously entered in the accounting records as $1,230.
d.
A credit memorandum enclosed with the July bank statement indicates the bank collected $9,000 cash on a non-interest-bearing note for Clark, deducted a $45 collection fee, and credited the remainder to its account. Clark had not recorded this event before receiving the statement.
e.
A debit memorandum for $805 lists a $795 NSF check plus a $10 NSF charge. The check had been received from a customer, Jim Shaw. Clark has not yet recorded this check as NSF.
f.
Enclosed with the July statement is a $15 debit memorandum for bank services. It has not yet been recorded because no previous notification had been received.
g.
Clark’s July 31 daily cash receipts of $10,152 were placed in the bank’s night depository on that date, but do not appear on the July 31 bank statement.
references
3.
value:
3.00 points
Problem 6-4A Part 1
Required:
1.
Prepare the bank reconciliation for this company as of July 31, 2011.
(Input all amounts as positive values. Omit the "$" sign in your response.)
CLARK COMPANY
Bank Reconciliation
July 31, 2011
Bank statement balance
$
$
$
Problem 6-4A Part 2
2.
Prepare the journal entries necessary to bring the company’s book balance of cash into conformity with the reconciled cash balance as of July 31, 2011.
(Omit the "$" sign in your response.)
Date
General Journal
Debit
Credit
July 31
[removed]
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The following information is available to reconcile Clark Company’s .docx
1. The following information is available to reconcile Clark
Company’s book balance of cash with its bank statement cash
balance as of July 31, 2011.
a.
On July 31, the company’s Cash account has a $26,193 debit
balance, but its July bank statement shows a $28,020 cash
balance.
b.
Check No. 3031 for $1,380 and Check No. 3040 for $552 were
outstanding on the June 30 bank reconciliation. Check No. 3040
is listed with the July canceled checks, but Check No. 3031 is
not. Also, Check No. 3065 for $336 and Check No. 3069 for
$2,148, both written in July, are not among the canceled checks
on the July 31 statement.
c.
In comparing the canceled checks on the bank statement with
the entries in the accounting records, it is found that Check No.
3056 for July rent was correctly written and drawn for $1,250
but was erroneously entered in the accounting records as
$1,230.
d.
A credit memorandum enclosed with the July bank statement
indicates the bank collected $9,000 cash on a non-interest-
bearing note for Clark, deducted a $45 collection fee, and
credited the remainder to its account. Clark had not recorded
this event before receiving the statement.
e.
A debit memorandum for $805 lists a $795 NSF check plus a
$10 NSF charge. The check had been received from a customer,
Jim Shaw. Clark has not yet recorded this check as NSF.
f.
Enclosed with the July statement is a $15 debit memorandum
for bank services. It has not yet been recorded because no
previous notification had been received.
g.
2. Clark’s July 31 daily cash receipts of $10,152 were placed in
the bank’s night depository on that date, but do not appear on
the July 31 bank statement.
references
3.
value:
3.00 points
Problem 6-4A Part 1
Required:
1.
Prepare the bank reconciliation for this company as of July 31,
2011.
(Input all amounts as positive values. Omit the "$" sign in your
response.)
CLARK COMPANY
Bank Reconciliation
July 31, 2011
Bank statement balance
$
$
$
Problem 6-4A Part 2
2.
Prepare the journal entries necessary to bring the company’s
book balance of cash into conformity with the reconciled cash
balance as of July 31, 2011.
(Omit the "$" sign in your response.)
Date
General Journal
Debit
3. Credit
July 31
[removed]
check my work
eBook Link
references
9 years ago
17.03.2013
3
Report Issue
Answer
(
1
)
Deepak Baid
4.6
(
210
)
4.7
(
74
)
Chat
Purchase the answer to view it
NOT RATED
solution_.xlsx
9 years ago
plagiarism check
Purchase $10
4. Bids
(
1
)
Deepak Baid
other Questions
(
10
)
probability
If you drove your car from east to west at noon, at what latitude
would you have to drive to...
the____of an element is the total nimber of protons and
neutrons in the _____of the atom.
Register in C++
account
Macroeconomics Homework
What would be a good thesis for a 5-6 page research paper over
King Lear?
micro economics test
Classiy this sentence. The tiny yellow butterfly searched
eagerly for nectar in the tulip beds.
Business Capstone unit 7 case study
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