Question

Computing Outstanding Checks and Deposits in Transit and Preparing a Bank Reconciliation and Journal Entries LO6-4 [The following information applies to the questions displayed below. The August current year bank statement for Allison Company and the August current year ledger account for cash follow: BANK STATEMENT Checks and EFTs Deposits Date Balance Aug. 1 $18,360 17,980 30,380 29,875 29,560 28,715 28,560 32,560 32,230 11,930 19,180 18,380 2,550 20,930 20,735 2$380 $12,400 505 315 845 155 EFT 9 10 15 21 24 $20,300 4,000 330 25 7,250 30 800 EFT 30 31 195 t $2,550 interest collected. Bank service charge Cash (A) 17160 Checks written and electronic funds transfers Aug. 2 4 15 17 18 20 23 Aug. 1 Balance Deposits Aug. 2 12 24 31 12,400 4,000 7,250 5,900 EFT 155 845 230 460 EFT 800 330 20,300 Outstanding checks at the end of July were for $315, $505, and $380. No deposits were in transit at the end of July.

Answer 1

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