Question

Conway Company reported the following information:
Cash balance on balance sheet (12/31) .............. $22,066
Pre-reconciliation cash account balance (12/31) .......... 23,916
Bank Statement (12/31) .................... 23,220
Bank Service Charges .................... 350
Bank Debit Memos (utility payments) .............. 1,500
Deposits in transit (12/31) ................... 9,160
Required:
1. Calculate the amount of outstanding checks as of December 31st.
2. Prepare the adjusting entries that Conway must make at December 31st.


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  • CreatedSeptember 22, 2015
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