The following information pertains to Sandhill Company. 1. Cash balance per books, August 31, $7,374. 2. Cash balance per bank, August 31, $7,338. 3. Outstanding checks, August 31, $708. 4. August bank service charge not recorded by the depositor $60. 5. Deposits in transit, August 31, $3,710. In addition, $3,026 collected for Sandhill Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sandhill Company. (a) Prepare a bank reconciliation at August 31, 2022. (List items that increase balance as per bank & books first.) SANDHILL COMPANY Bank Reconciliation Choose the accounting period For the Month Ended August 31, 2022August 31, 2022For the Year Ended August 31, 2022 Select an opening section 1 name Adjusted cash balance per bankDeposits in transitOutstanding checksCollection on electronic funds transferBank service chargeCash balance per bank statement $Enter a dollar amount Select between addition and deduction AddLess : Select a reconciling item Deposits in transitOutstanding checksCash balance per bank statementCollection on electronic funds transferBank service chargeAdjusted cash balance per bank Enter a dollar amount Enter a subtotal of the two previous amounts Select between addition and deduction AddLess : Select a reconciling item Bank service chargeCash balance per bank statementAdjusted cash balance per bankDeposits in transitOutstanding checksCollection on electronic funds transfer Enter a dollar amount Select a closing section 1 name Deposits in transitCash balance per bank statementCollection on electronic funds transferAdjusted cash balance per bankOutstanding checksBank service charge $Enter a total amount for section one Select an opening section 2 name Bank service chargeCash balance per booksDeposits in transitAdjusted cash balance per booksOutstanding checksCollection on electronic funds transfer $Enter a dollar amount Select between addition and deduction AddLess : Select a reconciling item Outstanding checksDeposits in transitCash balance per booksBank service chargeAdjusted cash balance per booksCollection on electronic funds transfer Enter a dollar amount Enter a subtotal of the two previous amounts Select between addition and deduction LessAdd : Select a reconciling item Deposits in transitBank service chargeOutstanding checksCash balance per booksCollection on electronic funds transferAdjusted cash balance per books Enter a dollar amount Select a closing section 2 name Adjusted cash balance per booksCollection on electronic funds transferDeposits in transitOutstanding checksBank service chargeCash balance per books $Enter a total amount for section two SHOW LIST OF ACCOUNTS

The following information pertains to Sandhill Company. 1. Cash balance per books, August 31, $7,374. 2. Cash balance per bank, August 31, $7,338. 3. Outstanding checks, August 31, $708. 4. August bank service charge not recorded by the depositor $60. 5. Deposits in transit, August 31, $3,710. In addition, $3,026 collected for Sandhill Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sandhill Company. (a) Prepare a bank reconciliation at August 31, 2022. (List items that increase balance as per bank & books first.) SANDHILL COMPANY Bank Reconciliation Choose the accounting period For the Month Ended August 31, 2022August 31, 2022For the Year Ended August 31, 2022 Select an opening section 1 name Adjusted cash balance per bankDeposits in transitOutstanding checksCollection on electronic funds transferBank service chargeCash balance per bank statement $Enter a dollar amount Select between addition and deduction AddLess : Select a reconciling item Deposits in transitOutstanding checksCash balance per bank statementCollection on electronic funds transferBank service chargeAdjusted cash balance per bank Enter a dollar amount Enter a subtotal of the two previous amounts Select between addition and deduction AddLess : Select a reconciling item Bank service chargeCash balance per bank statementAdjusted cash balance per bankDeposits in transitOutstanding checksCollection on electronic funds transfer Enter a dollar amount Select a closing section 1 name Deposits in transitCash balance per bank statementCollection on electronic funds transferAdjusted cash balance per bankOutstanding checksBank service charge $Enter a total amount for section one Select an opening section 2 name Bank service chargeCash balance per booksDeposits in transitAdjusted cash balance per booksOutstanding checksCollection on electronic funds transfer $Enter a dollar amount Select between addition and deduction AddLess : Select a reconciling item Outstanding checksDeposits in transitCash balance per booksBank service chargeAdjusted cash balance per booksCollection on electronic funds transfer Enter a dollar amount Enter a subtotal of the two previous amounts Select between addition and deduction LessAdd : Select a reconciling item Deposits in transitBank service chargeOutstanding checksCash balance per booksCollection on electronic funds transferAdjusted cash balance per books Enter a dollar amount Select a closing section 2 name Adjusted cash balance per booksCollection on electronic funds transferDeposits in transitOutstanding checksBank service chargeCash balance per books $Enter a total amount for section two SHOW LIST OF ACCOUNTS

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question 4

The following information pertains to Sandhill Company.

1.		Cash balance per books, August 31, $7,374.
2.		Cash balance per bank, August 31, $7,338.
3.		Outstanding checks, August 31, $708.
4.		August bank service charge not recorded by the depositor $60.
5.		Deposits in transit, August 31, $3,710.

In addition, $3,026 collected for Sandhill Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sandhill Company.

(a)

Prepare a bank reconciliation at August 31, 2022. (List items that increase balance as per bank & books first.)

SANDHILL COMPANY Bank Reconciliation Choose the accounting period For the Month Ended August 31, 2022August 31, 2022For the Year Ended August 31, 2022
Select an opening section 1 name Adjusted cash balance per bankDeposits in transitOutstanding checksCollection on electronic funds transferBank service chargeCash balance per bank statement		$Enter a dollar amount
Select between addition and deduction AddLess :	Select a reconciling item Deposits in transitOutstanding checksCash balance per bank statementCollection on electronic funds transferBank service chargeAdjusted cash balance per bank		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction AddLess :	Select a reconciling item Bank service chargeCash balance per bank statementAdjusted cash balance per bankDeposits in transitOutstanding checksCollection on electronic funds transfer		Enter a dollar amount
Select a closing section 1 name Deposits in transitCash balance per bank statementCollection on electronic funds transferAdjusted cash balance per bankOutstanding checksBank service charge		$Enter a total amount for section one

Select an opening section 2 name Bank service chargeCash balance per booksDeposits in transitAdjusted cash balance per booksOutstanding checksCollection on electronic funds transfer		$Enter a dollar amount
Select between addition and deduction AddLess :	Select a reconciling item Outstanding checksDeposits in transitCash balance per booksBank service chargeAdjusted cash balance per booksCollection on electronic funds transfer		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction LessAdd :	Select a reconciling item Deposits in transitBank service chargeOutstanding checksCash balance per booksCollection on electronic funds transferAdjusted cash balance per books		Enter a dollar amount
Select a closing section 2 name Adjusted cash balance per booksCollection on electronic funds transferDeposits in transitOutstanding checksBank service chargeCash balance per books		$Enter a total amount for section two

SHOW LIST OF ACCOUNTS

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