Prepare a bank reconciliation, at July 31 The following information is for Sheri

Question

Prepare a bank reconciliation, at July 31

The following information is for Sheridan Ltd. in July: aliibie attenots bank, July 31, $1 on with available pe bank, July 31, $10,810 2. 3. 4. 5. 6. 7. Cash balance per books, July 31, $8,780 Bank service charge, $50 Deposits in transit, $2,017 Electronic receipts from customers in payment of their accounts, $1,320, not previously recorded by the company Outstanding cheques, $2,417 Cheque #373 was correctly written in the amount of $590 but as incorrectly ecorded by the company's bookkeeper as s 50 e cheque was written or the purchase of office supplies.

Explanation / Answer

Solution:-

Bank Reconciliation Statement:-

Balance as per Books as on 31 july 8780 (-) Bank charges 50 (-) Deposit in transit 2017 (+) Electronic receipt 1320 (+) O/S Cheque 2417 (+) Incorrect cheque (950-590) 360 Balance as per Bank as on 31 july 10810

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