Question

The following information pertains to Carla Vista Company.

1.		Cash balance per bank, July 31, $7,738.
2.		July bank service charge not recorded by the depositor $48.
3.		Cash balance per books, July 31, $7,774.
4.		Deposits in transit, July 31, $3,110.
5.		$2,426 collected for Carla Vista Company in July by the bank through electronic funds transfer. The collection has not been recorded by Carla Vista Company.
6.		Outstanding checks, July 31, $696.

(a)

Prepare a bank reconciliation at July 31, 2017. (List items that increase balance as per bank & books first.)

CARLA VISTA COMPANY Bank Reconciliation Choose the accounting period                                                                      July 31, 2017For the Month Ended July 31, 2017For the Year Ended July 31, 2017
Select an opening section 1 name                                                                      Electronic funds transfer receivedAdjusted cash balance per bankDeposits in transitOutstanding checksBank service chargeCash balance per bank statement			$Enter a dollar amount
Select between addition and deduction                                                                      LessAdd:	Select a reconciling item                                                                      Electronic funds transfer receivedBank service chargeOutstanding checksDeposits in transitAdjusted cash balance per bankCash balance per bank statement		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction                                                                      AddLess:	Select a reconciling item                                                                      Adjusted cash balance per bankElectronic funds transfer receivedDeposits in transitBank service chargeOutstanding checksCash balance per bank statement		Enter a dollar amount
Select a closing section 1 name                                                                      Outstanding checksDeposits in transitAdjusted cash balance per bankBank service chargeCash balance per bank statementElectronic funds transfer received			$Enter a total amount for section one
Select an opening section 2 name                                                                      Cash balance per booksAdjusted cash balance per booksDeposits in transitOutstanding checksBank service chargeElectronic funds transfer received			$Enter a dollar amount
Select between addition and deduction                                                                      AddLess:	Select a reconciling item                                                                      Adjusted cash balance per booksElectronic funds transfer receivedCash balance per booksBank service chargeDeposits in transitOutstanding checks		Enter a dollar amount
			Enter a subtotal of the two previous amounts
Select between addition and deduction                                                                      AddLess:	Select a reconciling item                                                                      Cash balance per booksAdjusted cash balance per booksOutstanding checksBank service chargeDeposits in transitElectronic funds transfer received		Enter a dollar amount
Select a closing section 2 name                                                                      Electronic funds transfer receivedOutstanding checksBank service chargeAdjusted cash balance per booksCash balance per booksDeposits in transit			$Enter a total amount for section two

Answer 1

Ans:

CARLA VISTA COMPANY
BANK RECONCILIATION STATEMENT
For the Month Ended July 31,2017
Balance as per bank Statement	7738
Adjustment
Add: Deposits in transit	3110
	10848
Less: Outstanding checks	696
Adjusted balance as per bank statement	10152
Cash balance as per Books	7774
Adjustment
Add: EFT from customer	2426
	10200
Less: Service charges no recorded	48
Adjusted balance as per books	10152

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