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The following information is available for Galerite Corporation

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Question;Proof of CashGraded Homework AssignmentThe following information is available for Galerite Corporation:The October bank statement for Galerite Corporation showed a beginning balance of$355,001.00, deposits of $835,846.00, payments of $684,747.00 and an endingbalance of $506,100.00.Deposits in transit were $86,899.00 at September 30 and $51,240.00 at October 31.The corporation is notified of regular bank service charges with the monthlystatements. Bank service charges as shown on the banks statements were $297.00at September 30 and $355.00 at October 31.Outstanding checks were $42,690.00 at September 30 and $73,340.00 at October31.Interest paid to Galerite Corporation by the bank on the checking account balanceamounted to $324.00 at September 30 and $377.00 at October 31.A check in the amount of $8,360.00 originally deposited on October 10 was returnedto Galerite Corporation by the bank due to insufficient funds in the customer?saccount. No entries were made on the books of Galerite Corporation to record thereturned deposit. The check was redeposited on October 19 and cleared the bank.Required:Using the above information, use the Four-Column Proof of Cash interactive. Beginwith the balances per the bank statement and end with the balances per the books.Note that the balance per books has not been given in this problem. You will need tocalculate these numbers and enter them to complete the problem.When you have completed the activity, submit a screen shot of the finished interactiv ethrough this assignment.

 

Paper#50889 | Written in 18-Jul-2015

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