Make a bank reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are
Fantastic news! We've Found the answer you've been seeking!
Question:
- Make a bank reconciliation as of June 30, 20Y2. If errors in recording deposits or checks are discovered, assume that the errors were made by the company. Assume that all deposits are from cash sales. All checks are written to satisfy accounts payable. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Add:" & "Deduct:" will automatically appear if it is required. Round your answers to two decimal places. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
- Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places.
- What is the amount of Cash that should appear on the balance sheet as of June 30, 20Y2?
- Assume that a canceled check for $390 has been incorrectly recorded by the bank as $930. Briefly explain how the error would be included in a bank reconciliation and how it should be corrected.
Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Posted Date: