Oddball Corporation has the following information pertaining to their cash account: Interest bearing checking account with...
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Oddball Corporation has the following information pertaining to their cash account: Interest bearing checking account with Bank statements and electronic copies of cancelled checks are provided monthly The bank statement is prepared (the cutoff date) as of the end of each month Current bank statement for the month ending Balance per bank at the BEGINNING of November Deposits recorded by the bank for the current month Checks processed for the current month Service charges for the current month Non-sufficient funds checks for the current month deposited by Oddball Interest paid by the bank Balance per bank at the END of November A review of Oddball's general ledger provides the following information: Balance per the CASH account at the END of November Cash receipts by Oddball that have not yet been deposited but are included in the general ledger balance: A deposit made by Oddball on 11/28 not credited until December Checks written by Oddball that have NOT "cleared" (been paid out by) the bank Check #1028 was written to a supplier for the following amount but was incorrectly recorded as the following amount Fifth Third November $65,000 $12,000 $(14,000) $(200) $(2,000) $350 $61,150 $68,000 $6,500 $1,500 $4,500 $6,000 $4,500 What is the impact to the cash account for the correction of the Check #1028 error? Calculate the correct balance that both the Bank and Oddball Corporation should agree on after the Bank Reconciliation. Enter the amount as a positive value Oddball Corporation has the following information pertaining to their cash account: Interest bearing checking account with Bank statements and electronic copies of cancelled checks are provided monthly The bank statement is prepared (the cutoff date) as of the end of each month Current bank statement for the month ending Balance per bank at the BEGINNING of November Deposits recorded by the bank for the current month Checks processed for the current month Service charges for the current month Non-sufficient funds checks for the current month deposited by Oddball Interest paid by the bank Balance per bank at the END of November A review of Oddball's general ledger provides the following information: Balance per the CASH account at the END of November Cash receipts by Oddball that have not yet been deposited but are included in the general ledger balance: A deposit made by Oddball on 11/28 not credited until December Checks written by Oddball that have NOT "cleared" (been paid out by) the bank Check #1028 was written to a supplier for the following amount but was incorrectly recorded as the following amount Fifth Third November $65,000 $12,000 $(14,000) $(200) $(2,000) $350 $61,150 $68,000 $6,500 $1,500 $4,500 $6,000 $4,500 What is the impact to the cash account for the correction of the Check #1028 error? Calculate the correct balance that both the Bank and Oddball Corporation should agree on after the Bank Reconciliation. Enter the amount as a positive value
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Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date:
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