Accounting Homework Help : Bank Reconciliation

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timer Asked: Oct 25th, 2018

Question Description

I have two accounting homework questions that I am really struggling with, it has to do with bank reconciliation:

I need for the assignment to be complete in 7 hours from now, 10 pm PST

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Chrome File Edit View History Bookmarks People Window Help 1))) 62% (1) Thu 3:03:18 PM Tim Shey a WileyPLUS Х * Chapter 07 H X Messaging |\ x (2) The B 4 X 20243 Ingom X N Canvas Calix Files х Dashboard х + k » CO https://edugen.wileyplus.com/edugen/student/mainfr.uni CT ub 싸 T WileyPLUS: MyWileyPLUS | Help Contact Us | Log Out Wiley PLUS Kimmel, Financial Accounting, 8e FINANCIAL ACCOUNTING (ACCT 220) Home Read, Study & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment > Open Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Exercise 7-9 This information relates to the Cash account in the ledger of Crane Company. Copy of Chapter 7 textbook assignments Exercise 7-4 Exercise 7-9 Problem 7-3A (Part Level Submission). Balance September 1-$20,450; Cash deposited-$64,000 Balance September 30–$21,650; Checks written-$62,800 The September bank statement shows a balance of $20,550 at September 30 and the following memoranda. Review Score Review Results by Study Objective Credits Debits Collection of electronic funds transfer $2,370 NSF check: H. Kane $1,100 Interest earned on checking account 55 Safety deposit box rent 70 At September 30, deposits in transit were $5,288 and outstanding checks totaled $2,933. Prepare the bank reconciliation at September 30, 2017. (List items that increase balance as per bank & books first.) CRANE COMPANY Bank Reconciliation September 30, 2017 Cash balance per bank statement Add 4: Deposits in transit OCT 25 dk OA C Chrome File Edit View History Bookmarks People Window Help 64% (4) Thu 3:04:59 PM Tim Shey Q WileyPLUS Х * Chapter 07 H X Messaging | X (2) The B 4 X 20243 Ingom X N Canvas Calix Files Х Ask a new qu X + { » C https://edugen.wileyplus.com/edugen/student/mainfr.uni O ub 싸 T Home Read, Study & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment > Open Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Problem 7-3A (Part Level Submission) On July 31, 2017, Sheridan Company had a cash balance per books of $6,270.00. The statement from Dakota State Bank on that date showed a balance of $7,820.80. A comparison of the bank statement with the Cash account revealed the following facts. ASSIGNMENT RESOURCES Copy of Chapter 7 textbook assignments Exercise 7-4 Exercise 7-9 Problem 7-3A (Part Level Submission) 1. The bank service charge for July was $22.00. 2. The bank collected $1,650.00 for Sheridan Company through electronic funds transfer. 3. The July 31 receipts of $1,326.30 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 cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $346.00. 5. Checks outstanding on July 31 totaled $1,972.10. 6. On July 31, the bank statement showed an NSF charge of $705.00 for a check received by the company from W. Krueger, a customer, on account. Review Score Review Results by Study Objective (a) Prepare the bank reconciliation as of July 31. (List items that increase balance as per bank & books first.) SHERIDAN COMPANY Bank Reconciliation A License Agreement | Privacy Policy | 2000-2018 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4.24.10.8 OCT 25 di 10 A (30)
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