• The July 31 bank statement indicated a cash balance of $9,610 • The cash ledger account on that date shows a balance of $7,430. - Outstanding checks totaled $2,417. -A $500 check mailed to the bank for deposit had not reached the bank at the statement date. The bank returned a customer's NSF check for $225 received as payment of an account receivable. The bank statement showed $30 interest earned on the bank balance for the month of July. Check 781 for supplies cleared the bank for $268 but was erroneously recorded in our books as $240. A $486 deposit by Acme Company was erroneously credited to our account by the bank.

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter5: Bank Reconciliation (bankrec)
Section: Chapter Questions
Problem 1R
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Question
The July 31 bank statement for Simmons Company
indicated a cash balance of $9,610
• The cash ledger account on that date shows a balance of
$7,430.
Outstanding checks totaled $2,417.
• A $500 check mailed to the bank for deposit had not
reached the bank at the statement date.
The bank returned a customer's NSF check for $225
received as payment of an account receivable.
The bank statement showed $30 interest earned on the
bank balance for the month of July.
Check 781 for supplies cleared the bank for $268 but was
erroneously recorded in our books as $240.
A $486 deposit by Acme Company was erroneously
credited to our account by the bank.
Transcribed Image Text:The July 31 bank statement for Simmons Company indicated a cash balance of $9,610 • The cash ledger account on that date shows a balance of $7,430. Outstanding checks totaled $2,417. • A $500 check mailed to the bank for deposit had not reached the bank at the statement date. The bank returned a customer's NSF check for $225 received as payment of an account receivable. The bank statement showed $30 interest earned on the bank balance for the month of July. Check 781 for supplies cleared the bank for $268 but was erroneously recorded in our books as $240. A $486 deposit by Acme Company was erroneously credited to our account by the bank.
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