Question: The following is Oishi Sushi s bank statement Oishi Sushi s ledger shows

The following is Oishi Sushi's bank statement:
Oishi Sushi’s ledger shows the following transactions in the Cash account in June:
Additional information:
1. Deposit of $4,250 on May 31st was deposited in the bank on June 1.
2. Cheque 178 for $140 and cheque 180 for $625 were issued in May, and they were not cashed in June.
3. Oishi Sushi made an error in recording cheque 190 and the June 28 deposit. Cheque 190 was for an advertisement and the deposit was a collection from ABC Corp.
1. Prepare Oishi Sushi’s bank reconciliation at June 30.
2. Record the entries to update the cash account balance. Include an explanation for each entry.
3. If the entries were not recorded in (2), what is the impact on each of the assets, liabilities, and shareholders’ equity accounts?

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  • CreatedJuly 08, 2015
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