The information below relates to the Cash account in the ledger of Ansel Company. The June bank
Question:
The information below relates to the Cash account in the ledger of Ansel Company.
The June bank statement shows a balance of \(\$ 16,422\) on June 30 and the following memoranda.
At June 30 , deposits in transit were \(\$ 4,750\), and outstanding checks totaled \(\$ 2,383\).
Instructions
a. Prepare the bank reconciliation at June 30 .
b. Prepare the adjusting entries at June 30 , assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the checking account.
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a b Cash balance per bank statement Add Deposits in transit Less Outstandin...View the full answer
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Related Book For 
Financial Accounting Tools For Business Decision Making
ISBN: 9781119791089
10th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell
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