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)

• Your Answer
• Correct Answer

Partially correct answer iconYour answer is partially correct.

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

eTextbook and Media

List of Accounts

  

Attempts: 3 of 3 used

(b)

Journalize the adjusting entries at July 31 on the books of Carla Vista Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
July 31	Enter an account title to record electronic funds transfer received by bank on july 31	Enter a debit amount	Enter a credit amount
	Enter an account title to record electronic funds transfer received by bank on july 31	Enter a debit amount	Enter a credit amount
	(To record electronic funds transfer received by bank)
July 31	Enter an account title to record bank service charge on july 31	Enter a debit amount	Enter a credit amount
	Enter an account title to record bank service charge on july 31	Enter a debit amount	Enter a credit amount
	(To record bank service charge)

eTextbook and Media

Answer 1