June 30 cash receipts of 2724 were placed in the banks

Reference no: EM13570031

Cruz Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2011, its Cash account shows an $11,352 debit balance. Cruz's June 30 bank statement shows $10,332 on deposit in the bank.

a. Outstanding checks as of June 30 total $1,713.

b. The June 30 bank statement included a $23 debit memorandum for bank services; Cruz has not yet recorded the cost of these services.

c. In reviewing the bank statement, a $90 check written by Cruz Company was mistakenly recorded in Cruz Company's books at $99.

d. June 30 cash receipts of $2,724 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.

e. The bank statement included a $5 credit for interest earned on the cash in the bank. Prepare a bank reconciliation for Cruz Company using the above information.CRUZ COMPANY Bank Reconciliation June 30, 2011 Bank statement balance $ Book balance $ Add: Add: Interest earnedRecording error on checkDeposit of june 30Outstanding checksBank service charge Recording error on check Outstanding checks Deposit of june 30Bank service chargeInterest earned.

Bank service chargeDeposit of june 30Interest earnedOutstanding checksRecording error on check Deduct.Recording error on checkInterest earnedOutstanding checksBank service chargeDeposit of june 30Recording error on check Outstanding checks Deposit of june 30Bank service chargeInterest earned Adjusted bank balance $ Adjusted book balance $?

Reference no: EM13570031

Questions Cloud

Cabot company collected the following data regarding : cabot company collected the following data regarding production of one of its products. compute the direct materials

Grafton sells a product for 700 unit sales for may were 400 : grafton sells a product for 700. unit sales for may were 400 and a 3 growth in unit sales is forecasted for each month.

You have been approved for a 70000 loan toward the : you have been approved for a 70000 loan toward the purchase of a new home at 10 interest. the mortgage is for 30 years.

Use the following information to determine the ending cash : use the following information to determine the ending cash balance to be reported on the month ended june 30 cash

June 30 cash receipts of 2724 were placed in the banks : cruz company deposits all cash receipts on the day when they are received and it makes all cash payments by check. at

Fussner medical clinic measures its activity in terms of : fussner medical clinic measures its activity in terms of patient-visits. last month the budgeted level of activity was

Karen who is unmarried and not a head of household had a : karen who is unmarried and not a head of household had a long-term capital gain of 50000 and a short-term capital loss

A manufacturing company is thinking of launching a new : a manufacturing company is thinking of launching a new product. the company expects to sell 950000 of the new product

What do they tell you about a firm why is it important for : choose 4 different financial ratios from your text course materials andor web resources.bullanswer the following

User Account

All Pages