Prepare any journal entries required from the reconciliation. (List all debit entries before credit entries, Credit...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Prepare any journal entries required from the reconciliation. (List all debit entries before credit entries, Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation July 31 31 31 (To correct error in cheque #373) (To record EFT deposits) I Debit 30 C Credit ENG SUPPORT The following information is for Sunland Ltd. in July: 1. 2. 3. 4. 5. 6. 7. 8. Cash balance per bank, July 31, $9,737 Cash balance per books, July 31, $8,821 Bank service charge, $37 Deposits in transit, $1,787 Electronic receipts from customers in payment of their accounts, $1,160, not previously recorded by the company Outstanding cheques, $2,156 EFT payment of $660 for utilities, not previously recorded by the company Cheque #373 was correctly written in the amount of $808 but was incorrectly recorded by the company's bookkeeper as $892. The cheque was written to buy supplies. A IN S Prepare any journal entries required from the reconciliation. (List all debit entries before credit entries, Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation July 31 31 31 (To correct error in cheque #373) (To record EFT deposits) I Debit 30 C Credit ENG SUPPORT The following information is for Sunland Ltd. in July: 1. 2. 3. 4. 5. 6. 7. 8. Cash balance per bank, July 31, $9,737 Cash balance per books, July 31, $8,821 Bank service charge, $37 Deposits in transit, $1,787 Electronic receipts from customers in payment of their accounts, $1,160, not previously recorded by the company Outstanding cheques, $2,156 EFT payment of $660 for utilities, not previously recorded by the company Cheque #373 was correctly written in the amount of $808 but was incorrectly recorded by the company's bookkeeper as $892. The cheque was written to buy supplies. A IN S
Expert Answer:
Answer rating: 100% (QA)
In carrying out the reconciliation of Sunland Ltds bank statement for July the following adjustments would need to be accounted for in the companys le... View the full answer
Posted Date:
Students also viewed these accounting questions
-
The following are transactions between Sage Hill Corp., the consignor, and Oriole Stores Ltd., the consignee, for the month of June 2020. Sage Hill uses a perpetual inventory system and has a...
-
at the air handlers intake 100% outdoor air. Show the lines of both air handler configurations on a psychrometric chart. 4) Zone the floor plan on the following page without compromising any of the...
-
On November 1, 2021, Sadie's borrows $230,000 from a local bank and signs a note. The note requires interest to be paid annually beginning on August 1, 2022 at 12%. Principal and interest are due in...
-
Refer to the information for Tyler Company above. Required: 1. Which inventory costing method produces the highest amount for net income? 2. Which inventory costing method produces the lowest amount...
-
The following items were taken from the financial statements of J. Kung Enterprises. (All amounts are in thousands.) Instructions Prepare a classified statement of financial position in good form as...
-
On March 13, 2009, Juan Mendez Sr. was admitted to a nursing facility. On that day, a doctor employed by the facility determined the father lacked the capacity to give informed consent or make...
-
Match the flowchart or DFD segments in the right column to an appropriate description in the left column. DFDs 1. Statements are prepared and sent to customers from data contained in the accounts...
-
Your client, Gabe, needs to calculate the business part of his real estate taxes. How can Gabe calculate the business part of his real estate taxes? Unset starred question Add the real estate taxes...
-
As project managers, major problems that are faced include usage and availability of resources. Focusing on these areas before a project begins can prevent major delays including bottlenecks, cost...
-
Floretta Sutphin has worked for several years as an employee of a Canadian public company that has annual gross revenues of $190 million. In September 2021, Floretta was granted options to acquire...
-
reply to Authorized shares are the maximum number the company can legally issue. Issued shares represent the actual number distributed, which may be less than the authorized amount. Outstanding...
-
Wrote a creative brief that will serve as a roadmap for content creators. Considered your unique selling and value propositions, objectives, and goals you want to achieve. Also, included which social...
-
What are the responsibilities of the Gaming Control Board's Investigations Division? What are the responsibilities of the Gaming Control Board's Enforcement Division? Explain what is meant by...
-
What is the tax benefit rule? How is income recognized under the tax benefit rule? When can it be excluded from gross income? when the debtor is insolvent
-
A Marketing MIS supports activities throughout the many activities of marketing departments. Some of the typical subsystems of a marketing MIS are marketing research, product development and...
-
Assume today is the 21st of February. Using the information below, FT Extract, answer the following questions (parts i and ii). You work for a US company that is due to receive 250 million in June...
-
A network for a process plant is shown in Fig P19.7. (a) Calculate the energy targets for \(\Delta T_{\min }=10{ }^{\circ} \mathrm{C}\) and show a design that achieves these targets. (b) Explain why...
-
The emf of a copper-iron thermocouple caused by the Seebeck effect, with a cold junction at \(0{ }^{\circ} \mathrm{C}\), is given by \[\varepsilon=\alpha_{1} t+\frac{\alpha_{2}}{2}...
-
A thermocouple is connected across a battery, and a current flows through it. The cold junction is connected to a reservoir at \(0{ }^{\circ} \mathrm{C}\). When its hot junction is connected to a...
Study smarter with the SolutionInn App