(Solved): On July 31, 2022, Keeds Company had a cash balance per books of $6,140. The statement from Dakota ...

On July 31, 2022, Keeds Company had a cash balance per books of $$\$6,140$$. The statement from Dakota State Bank on that date showed a balance of $$\$7,690.80$$. A comparison of the bank statement with the Cash account revealed the following facts. 1. The bank service charge for July was $$\$25$$. 2. The bank collected $$\$1,520.00$$ for Keeds Company through electronic funds transfer. 3. The July 31 receipts of $$\$1,193.30$$ were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. 4. Company check No. 2480 issued to L. Taylor, a creditor, for $$\$384$$ that cleared the bank in July was incorrectly entered in the cash payments record on July 10 for $$\$348$$. 5. Checks outstanding on July 31 totaled $$\$1,860.10$$. 6. On July 31, the bank statement showed an NSF charge of $$\$575.00$$ for a check received by the company from W. Krueger, a customer, on account. Your answer is correct. Prepare the bank reconciliation as of July 31 . (List items that increase balance as per bank \& books first.) KEEDS COMPANY Bank Reconciliation July 31,2022 Cash balance per bank statement $$\$7690.80$$ Add $$V:$$ Deposits in transit $$\begin{array}{r}1193.30\\ 8884.10\end{array}$$ Less $$?:$$ Outstanding checks Cash balance per books $$\$6140$$ Add $$V$$ : Electronic funds transfer received $$v$$ $$\begin{array}{r}1520\\ 7660\end{array}$$ Less $$v$$ : Bank service charge $$\$$$ 25 NSF check Error in recording check No. 2480 \begin{tabular}{|l|l|} \hline 36 & $$1$$ \\ \hline \end{tabular} Prepare a tabular analysis for the necessary adjustments at July 31 . Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Prepare a tabular analysis for the necessary adjustments at July 31 . Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Prepare a tabular analysis for the necessary adjustments at July 31 . Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)