Prepare, in good form, the July 31, 2017 Bank Reconciliation for Alpha Alpha Com
ID: 2538307 • Letter: P
Question
Prepare, in good form, the July 31, 2017 Bank Reconciliation for Alpha Alpha Company had the following banking information from its bank statement dated July 31, 2017: $3,350 Bank Reconciliation Cash Balance per Bank (7/3/17) Bank Service Charges Collection of Note Receivable from Mr. 75 3,145 Yankee including the interest of $145 Customer (Mr. Welcher) returned ch 225 NSF The following additional information was determined from a review of the cash payments & receipts and the cheque register for Alpha Company: 1. The following cheques had not cleared the bank as paid: Date | Ck # 5/25/171005 Bravo Office Supply Store 7/15/171025 Zulu Electric Company 7/30/171030 Bravo Office Supply Store $250 1,900 250 2. The following information was recorded in Alpha's cash receipts ledger and have not yet been recorded in the bank statements: Date Item Amount 5/25/17Store Cash Sales 7/31/17Store Cash Sales 7/31/17 Cheques From Store Sales 7/31/17 Cash Balance per General Ledger $200 200 5,500 4,005 (7/31/17)Explanation / Answer
Bank Reconciliation for Alpha Company is as prepared below:
Alpha Company Bank Reconciliation July 31, 2017 Particulars Amount ($) Amount ($) Balance as per bank 3,350.00 Add: Deposit in transit Store cash Sales 200.00 Store cash Sales 200.00 Cheque from store sales 5,500.00 5,900.00 Less: outstanding checks: 1005 250.00 1025 1,900.00 1030 250.00 2,400.00 Adjusted cash balance per bank 6,850.00 Cash balance as per books 4,005.00 Add: Note collected by bank (3,000+145) 3,145.00 Less: NSF check 225.00 Bank Service charges 75.00 300.00 Adjusted cash balance as per books 6,850.00