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Business, 16.04.2020 18:00 sduquesnay23ocesdcom

Obj. 5 The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $17,750. The bank statement indicated a balance of $33,650 on July 31, 20Y5. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: Checks outstanding totaled $17,865. A deposit of $9,150, representing receipts of July 31, had been made too late to appear on the bank statement. The bank had collected $6,095 on a note left for collection. The face of the note was $5,750. A check for $390 returned with the statement had been incorrectly recorded by Stone Systems as $930. The check was for the payment of an obligation to Holland Co. for the purchase of office supplies on account. A check drawn for $1,810 had been incorrectly charged by the bank as $1,180. Bank service charges for July amounted to $80. Instructions Prepare a bank reconciliation. Answer Check Figure: Adjusted balance: $24,305 Journalize the necessary entries. If a balance sheet were prepared for Stone Systems on July 31, 20Y5, what amount should be reported as cash?

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Obj. 5 The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $17,750. The bank...
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