Question: please answer everything Problem 9.5A (Algo) Correcting errors revealed by a bank reconciliation. LO 9-5, 9-6 During the bank reconciliation process at A. Fontes Consultancy




Problem 9.5A (Algo) Correcting errors revealed by a bank reconciliation. LO 9-5, 9-6 During the bank reconciliation process at A. Fontes Consultancy on May 2, 20X1, the following two errors were discovered in the firm's records. a. The checkbook and the general joumal indicated that Check 2206 dated April 17 was issued for $705 to make a cash purchase of supplies. However, examination of the canceled check and the listing on the bank statement showed that the actual amount of the check was $19. b. The checkbook and the general journal indicated that Check 2247 dated April 20 was issued for $130 to pay a utility bill. However. examination of the canceled check and the listing on the bank statement showed that the actual amount of the check was $174. Required: 1. Prepare the adjusted book balance section of the firm's bank reconcillation statement as of April 30, 20Xi. The book balance as of April 30 was $20,300. The errors listed above are the only two items that affect the book balance. 2. Prepare general journal entries to correct the errors, Check 2206 was correctly debited to Supplies on April 17, and Check 2247 was debited to Utilities Expense on April 20 . Analyze: If the errors described had not been corrected, would net income for the period be overstated or understated? By what amount? Complete this question by entering your answers in the tabs below. Prepare the adjusted book balance section of the fitm's bank reconciliation statement as of Apnl 30,201. The book balance as of April 30 was $20,300. The errors fisted above are the only two items that affect the book balance. Prepare the adjusted book balance section of the firm's bank reconciliation statement as of April 30,201. The book balance as of April 30 was $20,300. The errors listed above are the only two items that affect the book balance. Journal entry worksheet Record the entry to correct for check 2206. Note: Enter debits before credits. Journal entry worksheet Record the entry to correct for check 2247. Note: Enter debits before credits. If the errors described had not been corrected, would net income for the period be overstated or understated? By what amount
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