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

question 202

Essay

The following information is available for the Topper Company for the month of July.
a.On July 31,after all transactions have been recorded,the balance in the company's Cash account has a balance of $15,244.
b.The company's bank statement shows a balance on July of $16,450.
c.Outstanding checks at July total $2,063.
d.A note receivable is collected by the bank for $570,but it is not yet recorded by Topper Company.
e.A $107 NSF check from a customer,P.Flank is shown on the bank statements,but not yet recorded by Topper.
f.A deposit placed in the bank's night depository on July 31 totaling $1,275 did not appear on the bank statement.
h.Bank fees of $45 for check printing are not yet recorded by Topper Company.
Prepare the July bank reconciliation for the Topper Company.

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Definitions:

Government Franchising

A method whereby the government grants a private entity the right to operate a public service or business within a certain territory or function.

Essential Resource

A resource considered vital for the survival of an economy or the operation of a business.

Long Run

A period in economics sufficient for all markets to adjust, including production levels, prices, and resource allocation, often contrasted with the short run where some factors are fixed.

Efficient Output

The level of production at which a firm or economy is producing at minimum average total cost, optimizing resource use.