Question

MENT RESOURCES Homework ons with video ince (Part Level ssion) ise 7-12 (Part Submission Dilem 7-4A (Part Submission Problem 7-4A (Part Level Submission) On July 31, 2019, Carla Vista Co. had a cash balance per books of $6,280.00. The statement from Dakota State Bank on that date showed a balance of $7,830.80. A comparison of the bank statement with the Cash account revealed the following facts. w Score w Results by Study tive 1. The bank service charge for July was $22.00. 2. The bank collected $1,660 for Carla Vista Co. through electronic funds transfer 3. The July 31 receipts of $1,336.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $364.00 that deared the bank in July was incorrectly entered as a cash payment on July 10 for $346.00 5. Checks outstanding on July 31 totaled $1.982.10. 6. On July 31, the bank statement showed an NSF charge of $715.00 for a check received by the company from W. Krueger, a customer, on account. (a) Prepare the bank reconciliation as of July 31. (List Items that increase balance as per bank & books first. Round answers to 2 decimal places, e.g. 52.75.)

Answer 1

CARLA VISTA CO. Bank Reconciliation July 31 Balance per bank Add: Deposit in transit $ 7,830.80 $ 1,336.30 $ 9,167.10 $ (1,982.10) $ 7,185.00 Less: Checks outstanding Adjusted Bank Balance $ 6,280.00 $ 1,660.00 Cash balance per books Add: Note collected including interest Less: Service charges Error in recording a check NSF checks Adjusted Bank Balance $ $ $ (22.00) (18.00) (715.00) $ $ ($ 346 - $ 364) (755.00) 7,185.00