Consider the November 2012 transactions for Shine King Cleaning that were presented in Chapter 2. The bank
Question:
Consider the November 2012 transactions for Shine King Cleaning that were presented in Chapter 2. The bank statement dated November 30, 2012, for Shine King follows.
Requirements
1. Prepare the bank reconciliation.
2. Journalize any required entries from the bankreconciliation.
Transcribed Image Text:
Bank Statement for November 2012 Beginning Balance, October 31, 2012 Deposits and other Credits: Nov $35,000 Nov 10 100 Nov 18 4,400 Nov 21 40,000 29 EFT Pierre's Wig Stand Nov 600 Nov 30 Interest credit 16 80,116 Checks and other Debits: 2 EFT to Check Art 5 ck#101 9 ck#103 Nov 30 Nov 2,000 Nov 1,200 9 ck#102 Nov 2,400 Nov 26 ck#105 500 28 EFT to Calpine Energy Nov 145 Nov 28 ck#106 100 Bank Service Charge 18 (6,393) Ending Balance, November 30, 2012 $73,723 %24
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Req 1 Shine King Cleaning Inc Bank Reconciliation November 30 2012 BANK Balance Novembe...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Question Posted:
Students also viewed these Cost Accounting questions
-
Consider the November 2015 transactions for Shine King Cleaning that were presented in Chapter 2. The bank statement dated November 30, 2015, for Shine King follows. Requirements 1. Prepare the bank...
-
Consider the December transactions for Shine King Cleaning that were presented in Chapter 5. (Cost data have been removed from the sale transactions.) Shine King uses the perpetual inventory system....
-
Consider the December transactions for Shine King Cleaning that were presented in Chapter 5. (Cost data has been removed from the sale transactions.) Dec 2 Purchased 600 units of inventory, $3,600,...
-
If you were able to dictate economic policy, how would you strengthen the automatic stabilizers in this country? Why would your solutions work?
-
The Skyline Motel opened for business on May 1, 2019. Its trial balance before adjustment on May 31 is as follows. In addition to those accounts listed on the trial balance, the chart of accounts for...
-
You have been assigned to examine the financial statements of Picard Corporation for the year ended December 31, 2023, as prepared following IFRS. Picard uses a periodic inventory system. You...
-
What are the primary categories of a risk?
-
Use the information for Lockard Company given in BE11-2. (a) Compute 2012 depreciation expense using the double-declining-balance method. (b) Compute 2012 depreciation expense using the...
-
4. An electron (C=1.610-19 C, m =9.11103 kg) is held at a distance of 4.5x10 m from o a fixed charged sphere particle. The electron is released and it accelerates away at 6.5x106 m/s. What is the...
-
Open orbits an open orbit in monovalent tetragonal metal connects opposite faces of the boundary of a Brillouin zone. The faces are separated by G = 2 x 10 8 cm 1 . A magnetic field B = 10 3 gauss =...
-
This problem continues the Draper Consulting, Inc., situation from Problem 6-45 of Chapter 6. Draper performs systems consulting. Draper's February Cash from its general ledger is as follows:...
-
Each of the following situations has an internal control weakness: a. Soft Wizzard Applications sells accounting software. Recently, development of a new program stopped while the programmers...
-
For the following exercises, use a system of linear equations with two variables and two equations to solve. If an investor invests $23,000 into two bonds, one that pays 4% in simple interest, and...
-
What role does genetic drift play in shaping the evolutionary trajectory of populations, particularly in small or isolated populations ?
-
Joey gets an offer from a bank that is paying 6% on CD's and is compounding interest daily (365 days per year). If he invests $2,000 how much will the CD be worth in 5 years? Round your answer to the...
-
Mana is tasked with developing her firm's new venture activities and ideas, and she is to lead a new division in support of these endeavors. What kind of approach is this?
-
How can calculate accounts payable and other liabilities on excel balance sheet without inventory?
-
Explain the following elements of the merchandise company reporting process: cost of goods sold, gross profit vs net income. Why are these elements important for merchant companies?
-
What is the relationship among organizational theory, design, change, and organizational structure and culture?
-
Use nodal analysis to determine voltages v1, v2, and v3 in the circuit Fig. 3.76. Figure 3.76 4 S 3i, 2 A 4A
-
Calculate the amount of heat required to convert 50.0 g of steam at 100.0 C to ice at 0.0 C.
-
Pueblo Pottery, Inc., engaged in the following transactions during 2009: a. On January 1, 2009, Pueblo deposited $12,000 in a certificate of deposit paying 6 percent interest compounded semiannually...
-
On January 1, you make a single deposit of $8,000 in an investment account that earns 8 percent interest. Required: 1. Calculate the balance in the account in five years assuming the interest is...
-
Fargo Transit Company invested $70,000 in a tax-anticipation note on June 30, 2009. The note earns 12 percent interest compounded monthly (1 percent per month) and matures on March 31, 2010....
-
How can bash shell scripting improve resource utilization and process management in Unix systems?
-
A solid sphere that is uniformly positively charged produces an electric field. Assume no other objects are around. What is the magnitude of the electric field a distance r from the center of the...
-
Why is potential difference important in x - ray production?
Study smarter with the SolutionInn App