Accounting help. Bank Reconciliation: Valentine Investigations has the following

ID: 2423165 • Letter: A

Question

Accounting help.

Bank Reconciliation: Valentine Investigations has the following information for its cash account: Balance, 1/31 Deposits during February Checks written during February $ 7,444 106,780 102,341 Valentine's bank statement for February contained the following information: Balance per bank, 1/31 Add: February deposits $8,910 104,950 $ 113,860 Less: Checks paid in february Bank service charge Debit memo (electric bill) $(101,400 (50) 800) (102,250 Balance per bank, 2/28 $ 11,610 A comparison of company records with the bank statement provided the following data: 1/31 A12/28 Deposits in transit Outstanding checks $2,750$4,580 4,216 5,157

Explanation / Answer

Answer

Answer 2

Bank Reconciliation Statement of Hula Corporation for august, 2013

Figures in $

Particulars

Amount

Bank balance as per Hula's Books as on August 31, 2013 (Dr.)

53453

Outstanding Checks as of August 31

3700

Deposit in Transit as on August 31, 2013

-3940

Error in recording check 9288 issued by Hula

-63

Service Charge for August

-100

interest earned during August

875

NSF Check From Jeffrey Corp. (deposited by Hula)

-450

Note and interest collected for Hula from a customer

11425

Bank Balance as per Bank Statement as on August 31, 2013 (Cry.)

64900