WileyPLUS main.uni ASSIGNMENT RESOURCES WEEK #4 Chapter07 omework Assignn Exerci

Question

WileyPLUS main.uni ASSIGNMENT RESOURCES WEEK #4 Chapter07 omework Assignn Exercise 7-8 (Part Level Submission) The following information pertains to Joyce Company, 1. Cash balance per bank, July 31, $8,962. 2. July bank service charge not recorded by the depositor $57 3. Cash balance per books, July 31, $8,998. 4. Deposits in transit, July 31, $4,334 5. Note for $3,634 collected for Joyce Company in July by the bank, plus interest $55 less fee $39. The collection has not been recorded by Joyce Company Exercise 7-8 (Part Leve Submission Exercise 7-15 and no interest has been accrued. 6. Outstanding checks, July 31, $705. Review Results by study 11 (a) Prepare a bank reconciliation at July 31, 2014. JOYCE COMPANY Bank Reconciliation lillv 31·014

Explanation / Answer

Cash balance per bank statement 8962 Add: Deposits in transit 4334 13296 Less: Outstanding checks 705 Adjusted cash balance per bank 12591 Cash balance per books 8998 Add: Collection of note receivable 3650 12648 Less: Bank charges 57 Adjusted cash balance per books 12591

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