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: ltem Amount Cash Balance per Bank (7/3/17) $3,350 Bank Service Charges 75 Collection of Note Receivable from Mr. Yankee including the interest of $145 3,145 Customer (Mr. Welcher) returned cheque NSF 225 The following additional information was determined from a review of the cash payments & receipts and the cheque register for Alpha Company: 1. The following cheques had not cleared the bank as paid: Date able

Explanation / Answer

SOLUTION:

Working:

Cash balance as per general ledger = ($3,350+5,900-2400) = $6,850

Balance as per bank records $3,350 Add: Deposit in Transit $200 Store Cash Sales $200 Check from store sale $5,500 $5,900 Minus: Checks not presented $2,400 $2,400 (250+1,900+250) Cash balance as per general ledger $6,850

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.