Ask Question
30 November, 04:49

The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $9,222. 2. July bank service charge not recorded by the depositor $53. 3. Cash balance per books, July 31, $9,328. 4. Deposits in transit, July 31, $3,763. 5. $2,120 collected for Crane Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Crane Company. 6. Outstanding checks, July 31, $1,590. Prepare a bank reconciliation at July 31, 2022.

+5
Answers (1)
  1. 30 November, 06:51
    0
    The preparation of bank reconciliation is presented below:

    Crane Company

    Bank reconciliation statement

    July 31, 2022

    Particulars Amount Particulars Amount

    Bank cash balance $9,222 Company cash balance $9,328

    Deposits in transit $3,763 Collections $2,120

    Less: Outstanding Less: service fee - $53

    Check - $1,590

    Bank balance Company balance

    After reconciliation $11,395 After reconciliation $11,395
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $9,222. 2. July bank service charge not recorded by ...” 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