Problem 7 - A Accounting Principles I (ACC 111) Bank Reconciliation (Chapter 7) Homework Problems Bank Reconciliation At September 30, of the current year, the Indigo Company's balance of Cash is $850. The bank's records, on the same date, show a balance of $1,000. The following information is available to reconcile these two balances: a) Indigo made a deposit, on September 30, for $40 that does not appear on the bank statement. # 30 #33 #34 b) The following checks, written by Indigo, have not been cashed by September 30: $ 87 10 25 c) Bank service charges for the month were $13. d) A check written and cashed for $63, to Mahogany Company, was incorrectly recorded by Indigo as $36. The check was payment for supplies on account. e) The bank collected a $90 note receivable from one of Indigo's customers. The principal amount of the note was $60 with an additional $30 included for interest. f) A check written, and recorded, by Indigo for $75 was incorrectly charged by the bank as $57. Requirements: 1) Prepare a bank reconciliation, at September 30 of the current year, in good form. 3 2) Prepare the necessary journal entries at September 30 of the current year.

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Required information Problem 6-4A (Algo) Preparing a bank reconciliation and recording entries LO P3 [The following information applies to the questions displayed below.] The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31. a. On July 31, the company's Cash account has a $25,640 debit balance, but its July bank statement shows a $28,276 cash balance. b. Check Number 3031 for $1,620, Check Number 3065 for $586, and Check Number 3069 for $2,388 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 $7,500 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…

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