The document appears to be a bank reconciliation for Lovable Company from June 30 to July 31. It shows the beginning and ending balances per the bank statement and per the company's books, along with bank credits/debits and book credits/debits for July. The bank balance per the statement on July 31 was $5,000,000, while the book balance was $5,350,000, with a deposit in transit of $1,000,000 reconciling the difference.
The document appears to be a bank reconciliation for Lovable Company from June 30 to July 31. It shows the beginning and ending balances per the bank statement and per the company's books, along with bank credits/debits and book credits/debits for July. The bank balance per the statement on July 31 was $5,000,000, while the book balance was $5,350,000, with a deposit in transit of $1,000,000 reconciling the difference.
The document appears to be a bank reconciliation for Lovable Company from June 30 to July 31. It shows the beginning and ending balances per the bank statement and per the company's books, along with bank credits/debits and book credits/debits for July. The bank balance per the statement on July 31 was $5,000,000, while the book balance was $5,350,000, with a deposit in transit of $1,000,000 reconciling the difference.
Add: Bank credits july 31 9,000,000.00 Less: Bank debit July 31 -7,000,000.00 Bank Balance per bank July 31 5,000,000.00 1.) A
Beginning book balance June 30 2,500,000.00
Add: book Debits July 31 9,400,000.00 Less: Book Credits July 31 -6,550,000.00 Book Balance July 31 5,350,000.00 2.) B
Deposit in transit July 31 9,000,000.00
Notes Collected -200,000.00 Deposit in Transit June 30 -400,000.00 Deposit in transit July 31 1,000,000.00 Total book receipts 9,400,000.00 3.) A
Outstanding Check july 31 7,000,000.00
NSF Check -140,000.00 Service Charge -10,000.00 Outstanding Check June 30 -900,000.00 Outstanding Check July 31 600,000.00 Total Book Disbursement 6,550,000.00 4.) A
Present Value of Principal (8,000,000 X 0.6756) 5,404,800 Jan-01 Present Value of Semi Annual Interest (400,000 X 8.11) 3,244,000 Purchase Price 8,648,800 Jul-01