Based on the reconciliation below and the attached bank statement and general ledger account, prepare the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Based on the reconciliation below and the attached bank statement and general ledger account, prepare the November 30, 2020 bank reconciliation and related journal entries for Kootenay Closets. You must upload your completed file below. Kootenay Closets October 31, 2020 Bank Reconciliation Bank Statement Balance Less: Outstanding Cheques Cheque #685 Cheque #699 Cheque #713 Cheque #714 Cheque #718 Reconciled Balance 45.50 18.75 185.30 52.75 327.52 1,458.88 629.82 829.06 Scotiabank Toronto, Ontario Kootenay Closets Cranbrook, BC Date 1-Nov 2-Nov 3-Nov 3-Nov 11-Nov 6-Nov 6-Nov 8-Nov 12-Nov 13-Nov 15-Nov 15-Nov 16-Nov 20-Nov 21-Nov 27-Nov 30-Nov 30-Nov 30-Nov 30-Nov Number of Debits 15 Transaction Description Balance Cheque #719 Cheque #685 Cheque #720 Deposit Cheque #721 Cheque #713 Cheque #714 Cheque #718 Cheque #723 Interest Cheque #724 Deposit Deposit Cheque #727 Cheque #730 Loan Payment Bank Charges NSF - B. Brown NSF Fee Total Amount 6,843.37 Cheques & Debits Account Statement 125.55 45.50 515.25 589.95 185.30 52.75 327.52 42.35 1,225.00 2,425.50 310.00 795.00 28.75 149.95 25.00 30-Nov-20 Deposits & Credits 2,125.85 8.25 2,950.45 875.50 Balance 1,458.88 ! 1,333.33 1,287.83 772.58 2,898.43 2,308.48 2,123.18 2,070.43 1,742.91 I 1,700.56 1,708.81 ! 483.81 3,434.26 4,309.76 1,884.26 1,574.26 779.26 750.51 600.56! 575.56 Number of Credit Total Amount 4 5,960.05 Kootenay Closets iCash Account Date Description 1-Nov Balance 2-Nov Western Insurance 3-Nov BC Hydro 11-Nov Deposit 6-Nov Fortis Natural Gas 10-Nov Dollar Store 10-Nov Canada Greenworks 14-Nov CRA 14-Nov Lordco 16-Nov Deposit 16-Nov Safeway 17-Nov Canada Closets 18-Nov Rona 22-Nov Deposit 23-Nov Sherwinn Williams Black Press Petro Canada 25-Nov 25-Nov 28-Nov Fabricland 30-Nov Taco Time 30-Nov ICBC 30-Nov Garbage Service 30-Nov Deposit Reference Debit Chq. 719 Chq. 720 Chq. 721 Chq. 722 Chq. 723 Chq. 724 Chq. 725 Chq. 726 Chq. 727 Chq. 728 Chq. 729 Chq. 730 Chq. 731 Chq. 732 Chq. 733 Chq. 734 Chq. 735 2,125.85 2,950.45 875.50 3,115.00 Credit Dr/Cr Balance 125.55 515.25 589.95 64.80 42.35 1,225.00 35.49 85.15 2,425.50 Dr à ô ô ô ô ô ô ô 77.85 310.00 265.02 189.95 64.55 228.75 75.00 Dr Dr Dr Dr Dr Dr Dr Dr Dr Dr Dr 310.75 Dr Dr Dr Dr Dr Dr Dr Dr Dr Dr 829.06 703.51 188.26 2,314.11 1,724.16 1,659.36 1,617.01 392.01 356.52 3,306.97 3,221.82 796.32 485.57 1,361.07 1,283.22 973.22 708.20 518.25 453.70 224.95 149.95 3,264.95 Based on the reconciliation below and the attached bank statement and general ledger account, prepare the November 30, 2020 bank reconciliation and related journal entries for Kootenay Closets. You must upload your completed file below. Kootenay Closets October 31, 2020 Bank Reconciliation Bank Statement Balance Less: Outstanding Cheques Cheque #685 Cheque #699 Cheque #713 Cheque #714 Cheque #718 Reconciled Balance 45.50 18.75 185.30 52.75 327.52 1,458.88 629.82 829.06 Scotiabank Toronto, Ontario Kootenay Closets Cranbrook, BC Date 1-Nov 2-Nov 3-Nov 3-Nov 11-Nov 6-Nov 6-Nov 8-Nov 12-Nov 13-Nov 15-Nov 15-Nov 16-Nov 20-Nov 21-Nov 27-Nov 30-Nov 30-Nov 30-Nov 30-Nov Number of Debits 15 Transaction Description Balance Cheque #719 Cheque #685 Cheque #720 Deposit Cheque #721 Cheque #713 Cheque #714 Cheque #718 Cheque #723 Interest Cheque #724 Deposit Deposit Cheque #727 Cheque #730 Loan Payment Bank Charges NSF - B. Brown NSF Fee Total Amount 6,843.37 Cheques & Debits Account Statement 125.55 45.50 515.25 589.95 185.30 52.75 327.52 42.35 1,225.00 2,425.50 310.00 795.00 28.75 149.95 25.00 30-Nov-20 Deposits & Credits 2,125.85 8.25 2,950.45 875.50 Balance 1,458.88 ! 1,333.33 1,287.83 772.58 2,898.43 2,308.48 2,123.18 2,070.43 1,742.91 I 1,700.56 1,708.81 ! 483.81 3,434.26 4,309.76 1,884.26 1,574.26 779.26 750.51 600.56! 575.56 Number of Credit Total Amount 4 5,960.05 Kootenay Closets iCash Account Date Description 1-Nov Balance 2-Nov Western Insurance 3-Nov BC Hydro 11-Nov Deposit 6-Nov Fortis Natural Gas 10-Nov Dollar Store 10-Nov Canada Greenworks 14-Nov CRA 14-Nov Lordco 16-Nov Deposit 16-Nov Safeway 17-Nov Canada Closets 18-Nov Rona 22-Nov Deposit 23-Nov Sherwinn Williams Black Press Petro Canada 25-Nov 25-Nov 28-Nov Fabricland 30-Nov Taco Time 30-Nov ICBC 30-Nov Garbage Service 30-Nov Deposit Reference Debit Chq. 719 Chq. 720 Chq. 721 Chq. 722 Chq. 723 Chq. 724 Chq. 725 Chq. 726 Chq. 727 Chq. 728 Chq. 729 Chq. 730 Chq. 731 Chq. 732 Chq. 733 Chq. 734 Chq. 735 2,125.85 2,950.45 875.50 3,115.00 Credit Dr/Cr Balance 125.55 515.25 589.95 64.80 42.35 1,225.00 35.49 85.15 2,425.50 Dr à ô ô ô ô ô ô ô 77.85 310.00 265.02 189.95 64.55 228.75 75.00 Dr Dr Dr Dr Dr Dr Dr Dr Dr Dr Dr 310.75 Dr Dr Dr Dr Dr Dr Dr Dr Dr Dr 829.06 703.51 188.26 2,314.11 1,724.16 1,659.36 1,617.01 392.01 356.52 3,306.97 3,221.82 796.32 485.57 1,361.07 1,283.22 973.22 708.20 518.25 453.70 224.95 149.95 3,264.95
Expert Answer:
Answer rating: 100% (QA)
To prepare the bank reconciliation and related journal entries for Kootenay Closets as of November 3... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
Posted Date:
Students also viewed these accounting questions
-
Use the attached "words.txt" file to store the words along with their ranks in an AVL tree. Then provide the user the option to search for any word. If the word exists the program displays the rank...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Boneyard Biscuits Dutch auction for an IPO was a great success. The firm offered 100 million shares. Bids appear below. a. What is the clearing price? b. What options do Boneyard and its underwriters...
-
Use the graph of y = x4 x3 6x2 + 4x + 8 To solve the inequality x4 x3 6x2 + 4x + 8 > 0?
-
The CAD/USD exchange rate at the beginning of the year 2015 is 1.9235. The interest rates in the year 2015 were 4.08% for Canada and 2.34% for US. Calculate the CAD/USD PPP exchange rate at the...
-
One thing that becomes clear to many potential business founders while conducting organizational feasibility analysis is that they need one or more partners to help launch their business. You might...
-
On July 1, 2014, Visnak Satellites issued $4,500,000, 7%, 10-year bonds at $4,194,218. This price resulted in an effective-interest rate of 8% on the bonds. Visnak uses the effective interest method...
-
When an object is placed between the pole(P) and focus(F) of a concave mirror, the image formed is (i) behind the mirror (ii) virtual and erect and (iii) larger than the object (or magnified) M A' E...
-
In the questions below, determine the percentage error. Show your work on all problems. A dad holds five coins in his hand. He tells his son that if he can guess the amount of money he is holding...
-
1) A rectangular pen with three parallel partitions is built using 500 ft of fence. What dimensions will maximize the total area of the pen? 2) Consider a rectangle of perimeter 12. A cylinder is...
-
Question 10 Use the one-to-one property of logarithms to find an exact solution for In (5) + In (5x25) = In (96). If there is no solution, enter NA. The field below accepts a list of numbers or...
-
given three points a ( - 5 , 1 , - 3 ) , b ( - 2 , 2 , 4 ) , and c ( 0 , 3 , - 4 ) . find the length of the perimeter of the triangle
-
In this unit, we have learned about the fundamental concepts of combinatorics, which is the branch of mathematics that deals with counting and arranging objects. Combinatorics is a crucial field of...
-
Pomelo Corporation granted a 4 year share compensation plan to its 300 key employees on December 31, 2017. Under the Black Scholes model the fair value of the compensation plan is P1,300,000. What is...
-
Explain how technological advances and the Covid-19 pandemic affect companies operating in the Food and Grocery Retail Industry in the UK. Support your discussion by evidence from your research and...
-
A company pledges their receivables so they may Multiple Choice Charge a factoring fee. Increase sales. Recognize a sale. Collect a pledge fee. Borrow money. Failure by a promissory notes' maker to...
-
The following information concerns the adjusting entries to be recorded on November 30, 2014, for RaiLink's year just ended. a. The Office Supplies account started the year with a $4,800 balance....
-
Prepare journal entries for the following transactions that occurred during 2014: May 1 Purchased equipment on account; $500. 2 Paid for the equipment purchased on May 1. 3 Purchased supplies for...
-
B52 Skate Training prepares adjustments annually and showed the following on its June 30, 2014, year-end: a. The Prepaid Arena Rental of $182,000 was paid on February 1, 2014. It represents seven...
-
a. For the allowed energies of a particle in a box to be large, should the box be very big or very small? Explain. b. Which is likely to have larger values for the allowed energies: an atom in a...
-
The molecules in the rods and cones in the eye are tuned to absorb photons of particular energies. The retinal molecule, like many molecules, is a long chain. Electrons can freely move along one...
-
What was the approximate activity of the plutonium source at the start of the mission? A. \(2 \times 10^{21} \mathrm{~Bq}\) B. \(2 \times 10^{19} \mathrm{~Bq}\) C. \(2 \times 10^{17} \mathrm{~Bq}\)...
Study smarter with the SolutionInn App