FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Bank Reconciliation Statement
As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.
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Prepare a bank reconciliation at July 31, 2025. (List items that increase balance as per bank & books first.) PHAROAH CORPORATION Bank Reconciliation $
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Transcribed Image Text:Prepare a bank reconciliation at July 31, 2025. (List items that increase balance as per bank & books first.) PHAROAH CORPORATION Bank Reconciliation $
The following information pertains to Pharoah Corporation. 1. 2. 3. 4. 5. 6. 7. Balance per bank, July 31, $8,214. July bank service charge not yet recorded by Pharoah, $25. Balance per books, July 31, $8.580. Deposits in transit, July 31, $2,482. Electronic collection on account (EFT) from a customer, $1,683 not yet recorded by Pharoah. Outstanding cheques, July 31, $858. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bank service charge. $40. The charges will be added to the customer's account.
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Transcribed Image Text:The following information pertains to Pharoah Corporation. 1. 2. 3. 4. 5. 6. 7. Balance per bank, July 31, $8,214. July bank service charge not yet recorded by Pharoah, $25. Balance per books, July 31, $8.580. Deposits in transit, July 31, $2,482. Electronic collection on account (EFT) from a customer, $1,683 not yet recorded by Pharoah. Outstanding cheques, July 31, $858. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bank service charge. $40. The charges will be added to the customer's account.
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