The Following Information Is Available for the Savvy Company for the Month

question 46

Essay

The following information is available for the Savvy Company for the month of June.
a.On June 30,after all transactions have been recorded,the balance in the company's Cash account has a balance of $17,202.
b.The company's bank statement shows a balance on June 30 of $19,279.
c.Outstanding checks at June 30 total $2,984.
d.The bank collected $770 on a note receivable that is not yet recorded by Savvy Company.
e.A $67 NSF check from a customer,J.Maroon is shown on the bank statement but not yet recorded by the company.
f.A deposit placed in the bank's night depository on June 30 totaling $1,675 did not appear on the bank statement.
g.Comparing the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,450,but was recorded in the accounting records as $2,540.
h.Included with the bank statement was a bank service charge in the amount of $25 .It has not been recorded on the company's books.
1.Prepare the June bank reconciliation for the Savvy Company.
2.Prepare the general journal entries to bring the company's book balance of cash into conformity with the reconciled balance as of June 30.

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Definitions:

Inappropriate Touch

Physical contact that is not suitable for the situation or relationship, often making the recipient feel uncomfortable or violated.

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Sociodramatic Play

A type of play where children enact scenes from real life or imaginary scenarios, often involving role-playing and interaction with peers.