Del Gato Clinic's cash account shows an $15,002 debit balance and its bank statement shows $14,984...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6648b8b6e4405_9106648b8b683fe5.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6648b8b78057d_9116648b8b71c05e.jpg)
Transcribed Image Text:
Del Gato Clinic's cash account shows an $15,002 debit balance and its bank statement shows $14,984 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,878. b. The June 30 bank statement lists a $10 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $889 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $898. d. The June 30 cash receipts of $2,895 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. Bank statement balance. Add: Deduct DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Deduct Adjusted bank balance Adjusted book balance) Del Gato Clinic's cash account shows an $15,002 debit balance and its bank statement shows $14,984 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,878. b. The June 30 bank statement lists a $10 bank service charge. c. Check No. 919, listed with the canceled checks, was correctly drawn for $889 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $898. d. The June 30 cash receipts of $2,895 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. Prepare its bank reconciliation using the above information. Bank statement balance. Add: Deduct DEL GATO CLINIC Bank Reconciliation June 30 Book balance Add: Deduct Adjusted bank balance Adjusted book balance)
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
There is a mathematical puzzle called "Four Fours." In it, you use four 4s to make other whole numbers. Examples: You can make 61 (4+4)+4+4-6 Four Fourths You can also make 9! You Try! What other...
-
Following are five series of costs A through E measured at various volume levels. Examine each series and identify which is fixed, variable, mixed, step-wise, orcurvilinear. Volume (Units) Series A...
-
The file Birdnest contains data for 99 species of North American passerine birds. Passerine are perching birds and include many families of familiar small birds (e. g., sparrows and warblers), as...
-
Why do managers, banks, lending agencies, owners, and potential owners need the financial information for a business?
-
In the mid-1990s, Mobil Corporation??s Marketing and Refining (M&R) division underwent a major reorganization and developed new strategic directions. In conjunction with these changes, M&R developed...
-
1. What are the two most important approaches IT should adopt to best describe its value to the business. 2. Describe a governance structure that would facilitate effective business and IT strategy...
-
QUESTION 1 (10 Marks) REQUIRED Use the information provided below to prepare the Pro Forma Statement of Financial Position of Galaxy Traders as at 31 December 2020: INFORMATION The Statement of...
-
Solve for I: log2(x) = -8 T
-
At an eatery in downtown Honolulu, three wise men sat around a table talking when the cook brought them a dish of kimchi. The cook asked them to taste the kimchi and share their thoughts with her....
-
What strategies can leaders employ to effectively manage change and mitigate resistance, fostering resilience and agility among employees amidst organizational restructuring and paradigm shifts ?
-
find f-g f(x) = x+5+ x+1, g(x) = x+1 Find fg. f(x) = x+5+ x+1, g(x) = x+1
-
You are to assume that the wage offer distribution facing searchers is uniform, with an upper bound of 20 and a lower bound 0 (ie all wage offers between 0 and 20 are equally likely). Assume that the...
-
The supply and demand for ice cream cones are described by the following equations: Supply: Q S = 30 + 38P Demand: Q D = 90 2P Q is the quantity of ice cream cones per day, and P is the price per...
-
Let (X. A. p) be a measure space. Show that for any A,B A, we have the equality: (AUB)+(An B) = (A) + (B).
-
Sole traders, partnerships and limited companies all have different users who need financial information for different purposes. Discuss.
-
What is fi nancial accounting and why is its study important?
-
Formal defi nitions The objective of general purpose fi nancial reporting is to provide fi nancial information about the reporting entity that is useful to existing and potential investors, lenders...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App