Dillman Food Store developed the following information in recording its bank statement for the month of...
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Dillman Food Store developed the following information in recording its bank statement for the month of March. Balance per books March 31, 2017 Balance per bank statement March 31, 2017 $ 2,905 $10,900 (1) Checks written in March but still outstanding $9,800. (2) Deposits in March not yet recorded by bank $5,200. NSF check of customer returned by bank $1,200. (4) (5) Check No. 210 for $594 was correctly issued and paid by bank but incorrectly entered by Dillman in the cash payments journal as payment on account for $549. (6) Bank service charge for March was $50. (7) A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payable subsidiary ledger for $824 when Check No. 318 was correctly prepared for $284. The check cleared the bank in March. (8) The bank collected a note receivable for the company for a total amount of $4,150 (include note and interest as one entry in the reconciliation). Instructions: Prepare a bank reconciliation at March 31. Dillman's Food Store Bank Reconciliation March 31, 2017 Bank: Firm: Dillman Food Store developed the following information in recording its bank statement for the month of March. Balance per books March 31, 2017 Balance per bank statement March 31, 2017 $ 2,905 $10,900 (1) Checks written in March but still outstanding $9,800. (2) Deposits in March not yet recorded by bank $5,200. NSF check of customer returned by bank $1,200. (4) (5) Check No. 210 for $594 was correctly issued and paid by bank but incorrectly entered by Dillman in the cash payments journal as payment on account for $549. (6) Bank service charge for March was $50. (7) A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payable subsidiary ledger for $824 when Check No. 318 was correctly prepared for $284. The check cleared the bank in March. (8) The bank collected a note receivable for the company for a total amount of $4,150 (include note and interest as one entry in the reconciliation). Instructions: Prepare a bank reconciliation at March 31. Dillman's Food Store Bank Reconciliation March 31, 2017 Bank: Firm:
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BANK Balance March 31 Add Deposits in transit Less Outstanding Checks Ref Amount From Mar 60... View the full answer
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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