Ask Question
24 May, 11:55

The following information pertains to Sunland Company. 1. Cash balance per books, August 31, $7,374. 2. Cash balance per bank, August 31, $7,338. 3. Outstanding checks, August 31, $706. 4. August bank service charge not recorded by the depositor $58. 5. Deposits in transit, August 31, $3,610. In addition, $2,926 collected for Sunland Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sunland Company. (a) Prepare a bank reconciliation at August 31, 2022.

+1
Answers (1)
  1. 24 May, 14:05
    0
    The preparation is presented below:

    Explanation:

    The preparation of the bank reconciliation statement is presented below

    Sunland company

    Bank reconciliation statement

    August 31, 2022

    Particulars Amount Particulars Amount

    Bank cash balance $7,338 Company cash balance $7,374

    Add: Deposits in transit $3,610 Add: Collected $2,926

    Less: Outstanding Less: service fee - $58

    Check - $706

    Bank balance Company balance

    After reconciliation $10,242 After reconciliation $10,242
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The following information pertains to Sunland Company. 1. Cash balance per books, August 31, $7,374. 2. Cash balance per bank, August 31, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers