Proof of Cash Graded Homework Assignment The following infor

Proof of Cash Graded Homework Assignment The 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 ending balance 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 monthly . statements. Bank service charges as shown on the banks statements were $297.00 at September 30 and $355.00 at October 31. Outstanding checks were $42,690.00 at September 30 and $73,340.00 at October 31. Interest paid to Galerite Corporation by the bank on the checking account balance amounted 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 returned to Galerite Corporation by the bank due to insufficient funds in the customer\'s account. No entries were made on the books of Galerite Corporation to record the returned 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. Begin with 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 to calculate these numbers and enter them to complete the problem When you have completed the activity, submit a screen shot of the finished interactive through this assignment.

Solution

Four column Proof of Cash Interactive Galerite Corporation Proof of Cash For the month of October, 2011 Balance October October Balance 30-Sep Receipts Disbursements 31-Oct Balance per Bank $355,001.00 $835,846.00 $684,747.00 $506,100.00 Deposit in Transit: at September 30 $86,899 ($86,899) at October 31 $51,240 $51,240 Service Charges: at September 30 $297 $297 at October 31 $355 ($355) Outstanding Checks: at September 30 ($42,690) ($42,690) at October 31 $73,340 ($73,340) Interest paid to Corp: at September 30 ($324) $324 at October 31 ($377) ($377) NSF Check Balance per Books $399,183.00 $800,134.00 $716,049.00 $483,268.00