Question 5 (12 points) Alpha Company had the following banking information from

Question

Question 5 (12 points) Alpha Company had the following banking information from its bank statement dated July 31, 2017: Cash Balance per Bank (7/3/17) Bank Service Charges Collection of Note Recelvable from Mr. Yankee $3.350 75 including the interest of $145 3,145 Customer (Mr. Welcher) returned cheque NSF 225 The following additional information was determined from a revlew of the cash payments & receipts and the cheque register for Alpha Company: 1. The following cheques had not cleared the bank as paid: Date |- 5/25/171005 Bravo Office Supply Store 7/15/17 1025 Zulu Electric Company 7/30/17 1030 Bravo Office Supply Store Accounts Payable $250 1,900 250 2 The following information was recorded in Alpha's cash receipts ledger and have not yet been recorded in the bank statements Date Item Amount $200 5/25/17 Store Cash Sales 7/31/17 Store Cash Sales 7/31/17 Cheques From Store Sales 7/31/17 Cash Balance per General Ledger 200 5,500 4,005 (7/31/17) Prepare, in good form the July 31, 2017 Bank Reconciliation for Alpha Company

Explanation / Answer

Bank Reconciliation statement Book balance $        4,005 Bank balance $         3,350 Bank service charges $           (75) Cheqe deposited but not cleared Note receivable collections $        3,145 1005 $           (250) NSF cheque $         (225) 1025 $       (1,900) 1030 $           (250) $       (2,400) Store cash sales $             200 Store cash sales $             200 $             400 Cheque from store sales $         5,500 Adjusted book balance $        6,850 Adjusted bank balance $         6,850

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