Roper Electronics Received Its Bank Statement for the Month of August

question 23

Essay

Roper Electronics received its bank statement for the month of August with an ending balance of $11,740. Roper determined that check #613 for $155 and check #601 for $420 were both outstanding. Also, a $6,900 deposit for August 30 was in transit as of the end of the month. Northern Regional Bank also collected a $5,000 note receivable on August 1 that was issued March 1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the collection service. The bank statement reveals a bank service charge of $20. A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938.
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(a) Prepare a bank/account reconciliation.
(b) Prepare any necessary journal entries for the reconciliation.
(b) If a balance sheet were prepared for Roper Electronics on August 31, what amount should be reported for cash?

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Definitions:

Surgical Code

A surgical code is a unique identifier used in healthcare billing and record-keeping to denote specific surgical procedures performed.

CPT Manual

A publication by the American Medical Association that provides codes for billing medical procedures and services.

HCPCS Level

Healthcare Common Procedure Coding System, a set of codes used for billing and coding medical procedures and equipment in the United States.

Examination Conducted

The process of performing a detailed evaluation or analysis of an individual or system.