a. On July 31, the company's Cash account has a $25,175 debit balance, but its July bank statement shows a $27,439
cash balance.
b. Check Number 3031 for $1,470, Check Number 3065 for $511, and Check Number 3069 for $2,238 are outstanding
checks as of July 31.
c. Check Number 3056 for July rent expense was correctly written and drawn for $1,230 but was erroneously entered
in the accounting records as $1,220.
d. The July bank statement shows the bank collected $5,000 cash on a note for Branch. Branch had not recorded this
event before receiving the statement.
e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch
has not yet recorded this check as NSF.
f. The July statement shows a $8 bank service charge. It has not yet been recorded in miscellaneous expenses
because no previous notification had been received.
g. Branch's July 31 daily cash receipts of $6,132 were placed in the bank's night depository on that date but do not
appear on the July 31 bank statement.
Required:
1. Prepare the bank reconciliation for this company as of July 31.
BRANCH COMPANY
Bank Reconciliation
July 31
