From the following July 28, 2017, bank statement (p. 387), (a) Complete a bank reconciliation for The
Question:
From the following July 28, 2017, bank statement (p. 387),
(a) Complete a bank reconciliation for The Fresh Flower Shop of Halifax and
(b) Journalize the appropriate entries as needed.
a. A deposit of $2,122 is in transit.
b. The Fresh Flower Shop has an ending cheque-book balance of $5,111.
c. Cheques outstanding: No. 231, $298; No. 245, $509; No. 246, $76; No. 247, $237.
d. Jane Yates's cheque for $225 bounced because of non-sufficient funds.
Casing Suppliers Ltd.
General Ledger Listing as of March 31, 2018
Casing Suppliers Ltd.
Bank Reconciliation
February 28, 2018
e. Cheque No. 241 for utilities expense was entered in the cash payments journal as $358.
f. The cheque for $607 shown by the bank as paid on July 28 was actually a cheque of the Active Automotive Repair. This error will be corrected by the bank next month. The bank apologized for the error?
Posting Entry Balance Forward Net Date Debits Credits Period Source Description 1050 Royal Bank - Chequing Reference Balance Dr/Cr. 4,328.94 Dr. CHQ 2325 GL-GJ 2-Mar-18 WESTERN PROPERTIES LTD. GL-GJ 2-Mar-18 WALLY PIERCE - Deposit GL-GJ 2-Mar-18 SANDY NESS - Deposit 3 -1 1,746.20 2,582.74 Dr. 8,769.16 Dr. 12,230.00 Dr. 8,752.84 Dr. 8,607.84 Dr. 6,962.84 Dr. 15,781.84 Dr. 14,925.84 Dr. 16,540.09 Dr. 10,955.94 Dr. 8,169.44 Dr. 6,519.44 Dr. 6,353.02 Dr. 6,010.30 Dr. 5,504.60 Dr. 4,835.98 Dr. 4,459.98 Dr. 7,877.23 Dr. 6,013.03 Dr. 4,298.48 Dr. 3,972.06 Dr. 9,818.90 Dr. 6,359.69 Dr. 5,387.69 Dr. 3,645.33 Dr. 1,645.33 Dr. 2,597.33 Dr. 1,844.09 Dr. 1,694.09 Dr. 6,186.42 3,460.84 942 3-2 943 3- 3 GL-GJ 2-Mar-18 CARSON WHOLESALE INC. CHQ 2326 CHQ 2327 3-4 3,477.16 GL-GJ 5-Mar-18 QUICK COMPUTER REPAIRS LTD. GL-GJ 5-Mar-18 NIVENS QUALITY UPHOLSTERING CHQ 2328 GL-GJ 6-Mar-18 ALLEN MURRAY - Deposit GL-GJ 6-Mar-18 A.F. KINGSLEY, ACCOUNTANT GL-GJ 6-Mar-18 BRENDA KELLY - Deposit 3-5 145.00 1,645.00 3 -6 3 -7 3-8 944 8,819.00 CHQ 2329 856.00 945 3-9 1,614.25 3 - 10 3- 11 GL-GJ 6-Mar-18 EVANS CONTRACTING LTD. CHQ 2330 CHQ 2331 CHQ 2332 CHQ 2335 CHQ 2336 CHQ 2337 CHQ 2338 CHQ 2339 946 5,584.15 2,786.50 GL-GJ 6-Mar-18 CORRINTHIAN CONSULTING CO. 1,650.00 GL-GJ 6-Mar-18 NANCY SNYDER GL-GJ 6-Mar-18 CITY PHONE COMPANY 3- 12 3 - 13 166.42 GL-GJ 9-Mar-18 LYCOS UTILITIES INC. 3- 14 342.72 GL-GJ 9-Mar-18 CASEY VALENCE GL-GJ 9-Mar-18 STATIONERY DEPOT LTD. 3- 15 505.70 3- 16 668.62 GL-GJ 9-Mar-18 JAMIE DUPRE GL-GJ 10-Mar-18 WAN TSUI - Deposit GL-GJ 10-Mar-18 LARRY MURDOCH - Salary GL-GJ 10-Mar-18 FREDA WANDERLING - Salary GL-GJ 11-Mar-18 RBC - Loan Interest GL-GJ 11-Mar-18 K CARDINAL - Deposit 3- 17 376.00 3- 18 3,417.25 CHQ 2340 CHQ 2341 01 - 21 3- 19 1,864.20 1,714.55 3- 20 3 - 21 326.42 5,846.84 947 3- 22 GL-GJ 13-Mar-18 JAMISON SUPPLIERS LTD. GL-GJ 16-Mar-18 WORD WIZARDS LTD. CHQ 2342 CHQ 2343 CHQ 2344 01 - 24 3- 23 3,459.21 3- 27 972.00 GL-GJ 16-Mar-18 Canada Revenue Agency GL-GJ 16-Mar-18 RBC - Loan Repayment GL-GJ 16-Mar-18 JOY AMITY - Deposit 3- 28 1,742.36 2,000.00 3- 29 948 3- 30 952.00 CHQ 2346 CHQ 2347 GL-GJ 16-Mar-18 THOMAS HUNT - Insurance GL-GJ 17-Mar-18 PEARSON HIGH SCHOOL 3- 31 753.24 3- 32 150.00 ADVERTISING CHQ 2348 01 - 29 GL-GJ 17-Mar-18 THE LOCAL TIMES 3- 37 682.45 1,011.64 Dr. GL-GJ 18-Mar-18 RBC - New cheques ordered GL-GJ 19-Mar-18 LINDA FRANKLIN - Deposit GL-GJ 20-Mar-18 GRADY PURBOO - Deposit GL-GJ 21-Mar-18 LARRY MURDOCH - Salary GL-GJ 23-Mar-18 FREDA WANDERLING - Salary GL-GJ 24-Mar-18 CRISPIN ROBICHAUD 3- 38 35.30 976.34 Dr. 949 3- 39 2,456.38 1,964.25 3,432.72 Dr. 5,396.97 Dr. 3,532.77 Dr. 1,818.22 Dr. 561.47 Dr. 3 - 44 3- 45 950 CHQ 2349 CHQ 2350 CHQ 2351 1,864.20 1,714.55 1,256.75 3- 46 3- 47 GL-GJ 25-Mar-18 KEN CHARLES - Deposit GL-GJ 27-Mar-18 WANDA GRIERSON - Deposit GL-GJ 27-Mar-18 OREST FELDMAN - Deposit GL-GJ 27-Mar-18 TIM EWASIUK - Deposit 951 3- 48 1,906.72 3,868.46 2,842.66 2,442.91 2,468.19 Dr. 6,336.65 Dr. 9,179.31 11,622.22 Dr. 7,163.44 Dr. 5,569.10 Dr. -271.50 Cr. 3- 49 952 3- 51 953 Dr. 954 CHQ 2352 CHQ 2353 CHQ 2354 3. 3- 52 3 - 56 4,458.78 1,594.34 GL-GJ 27-Mar-18 GRAHAM DENMANN GL-GJ 30-Mar-18 STILL PRODUCTIONS COMPANY GL-GJ 30-Mar-18 BRYANT WHOLESALE 3- 57 3- 58 5,840.60 SUPPLIERS LTD CHQ 2355 CHQ 2356 3 - 62 3- 65 3. GL-GJ 30-Mar-18 AGENCY RESTAURANT GL-GJ 31-Mar-18 COMPACT DESIGNS LTD. GL-GJ 31-Mar-18 AMY FIELDING - Deposit 162.70 -434.20 Cr. 268.45 -702.65 Cr. 3 - 66 3. 955 3,148.62 2,445.97 Dr. Balance per Bank Statement 5,183.83 2,856.32 8,040.15 Add: Deposit in Transit Less: Outstanding Cheques: 2296 2323 2324 87.26 1,457.50 2,166.45 3,711.21 Balance per General Ledger 4,328.94
Step by Step Answer:
BANK OF INDUSTRY AND COMMERCE MAIN BRANCH HALIFAX NS This form is provided to help you balance your ...View the full answer
College Accounting A Practical Approach
ISBN: 978-0133133233
12th Canadian edition
Authors: Jeffrey Slater, Brian Zwicker
Students also viewed these Cost Accounting questions
-
From the following July 28, 2014, bank statement (p. 353), (1) complete a bank reconciliation for The Fresh Flower Shop of Halifax and (2) journalize the appropriate entries as needed. a. A deposit...
-
The following information was available to reconcile Montrose Company's book balance of Cash with its bank statement balance as of October 31, 2014: a. After all posting was completed on October 31,...
-
South Hampton Pool Supplies' May 31, 2014, bank balance was $7,350. The company's cash balance at May 31 was $8,210. Other information follows: 1. Outstanding cheques were #321 for $653, #371 for...
-
Which statement about sociology as a science is true? A) Most sociologists reject the use of the scientific method. B) Sociologists almost always use hypothesis testing in their research. C) Sociolo...
-
Use a graphing calculator or computer to determine which of the given viewing rectangles produces the most appropriate graph of the function f (x) = x2 + 7x + 6. (a) [ 5, 5] by [ 5, 5] (b) [0, 10] by...
-
Overhead electric transmission lines get heated (due to the electric resistivity of the cable material) and lose heat to the ambient air; this transmission energy loss due to heat transfer is...
-
What is a seismic instrument?
-
Alexander Corporation reports the following components of stockholders equity on December 31, 2013: Common stock $ 25 par value, 50,000 shares authorized, 30,000 shares issued and outstanding . . . ....
-
Provide a summary of Kamille McKinney's case. Include details on the crime. The individuals involved, including background information How this case came to its conclusion The outcome of the parties...
-
At December 31, 2011, the records of Duo Corporation provided the following selected and incomplete data: Common stock (par $1; no changes during the year). Shares authorized, 5,000,000. Shares...
-
Explain the difference between payee, drawer, and drawee?
-
On March 2, 2016, the accountant for Bergen Carpet Co. of Edmonton was injured in a skiing accident and was advised not to return to work for six weeks. The owners of the company are anxious to...
-
Listed below are several terms and phrases associated with long-term debt. Pair each item from List A with the item from List B (by letter) that is most appropriately associated with it.
-
-100 BA Co B X 50 1 mile Figure 2.2: Potentiometric Contour Map. Letters represent well locations. Hydraulic Heads A 132 76 95 Calculate the hydraulic gradient from A to B. Calculate the hydraulic...
-
Consider the problem of a value maximizing firm whose profit function at time t is given by II(K) =eK! where e is the natural exponent, A denotes fixed the productivity level, K, denotes capital and...
-
An analyst is bullish about the performance of Company X, after reviewing their latest product. He is offered the following two options to invest: Portfolio 1: Buy 100 units of ATM call options with...
-
Figure 1 illustrates how a barrier option works. The stock price starts at $100, ends at $80, and hits the barrier of $75 about halfway through the year. If the option were a 95-strike down-and-in...
-
A beam is simply supported at two ends and under the action of two point loads, Fs and Fc, as shown in the figure below. Weight of the beam can be neglected. Weights of the beam and ropes can be...
-
Dos Passos Company sells televisions at an average price of $900 and also offers to each customer a separate 3-year warranty contract for $90 that requires the company to perform periodic services...
-
3M Company reports the following financial statement amounts in its 10-K report: a. Compute the receivables, inventory, and PPE turnover ratios for both 2018 and 2017. (Receivables turnover and...
-
From the following, prepare a schedule of accounts payable for AVE Co. for May 31, 2012: Accounts Payable Subsidiary Ledger General Ledger Accounts Payable ones Co. 5/25 GJ 20 5/19 G 60 5/31 GJ 10...
-
Lois Long received $300 of merchandise from Blue Co. What would be the journal entry on the books of both the buyer and the seller?
-
Given the following, calculate net sales and net purchases: Gross sales Sales returns and allowances Sales discounts $50 Gross purchases $46 4 2 Purchase returns and allowance 8 2 Purchase discounts
-
Whatare basis of the segmentation? How would you improve on this strategy in marketing ? What are the basis of the segmentation? How would you improve on this strategy?
-
Jimmy has a bond with a $1,000 face value and a coupon rate of 9.5% paid semiannually. It has a five-year life. a) If investors are willing to accept a 14 percent rate of return on bonds of similar...
-
A zero-coupon bond that will pay $1,050 in 12 years is selling today for $441.91. What interest rate does the bond offer?
Study smarter with the SolutionInn App