The Following Information Is Available for Ashland Company for the Month

question 77

Essay

The following information is available for Ashland Company for the month ending June 30, 2017.
* Balance as per the bank statement is $11,240.
* Balance as per books is $10,200.
* Check #506 for $1,200 and check #510 for $900 were not shown on the June 30 bank statement.
* A deposit in transit of $3,110 had not been received by the bank when the bank statement was generated.
* A bank debit memo indicated an NSF check for $85 written by Maddie Wolfe to Ashland Company on June 13.
* A bank credit memo indicated a note collected by the bank of $2,100 and interest revenue of $55 on June 20.
* The bank statement indicated service charges of $20.
Prepare bank reconciliation for Ashland Company for June 30, 2017.

---

Definitions:

Custom Cabinetry

Tailor-made cabinetry designed and built to meet specific requirements and tastes of the customer.

Product Element

A component of a product that includes features, design, quality, brand name, and packaging which together form the product's overall offer.

Marketing Mix

The set of actionable marketing tools—Product, Price, Promotion, and Place—that the firm uses to pursue its marketing objectives in the target market.

Volume Discounts

A pricing strategy where the price per unit of goods decreases as the quantity purchased increases.