Question: Question 6 (7 marks) Using the following information, prepare a bank reconciliation for Biron Bay Ltd for 31 May. a. The bank statement balance is

Question 6 (7 marks)

Using the following information, prepare a bank reconciliation for Biron Bay Ltd for 31 May.

a. The bank statement balance is $18,200.

  1. The cash account balance is $14,824.
  2. Outstanding cheques totalled $3,200.
  3. Deposits in transit are $600.
  4. The bank service charge is $24.
  5. Collection of note by bank, $800.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Question 6 (7 marks) Using the following information, prepare a bank reconciliation for Biron Bay Ltd as at 31 May. a. The bank statement balance is $18,200. b. The cash account balance is $14824. c....

Q:

Using the following information, prepare a bank reconciliation for Biron Bay Ltd as at 31 May. a. The bank statement balance is $18,200. The cash account balance is $14824. Outstanding cheques...

Q:

Using the following information, create a bank reconciliation for Biron Bay Ltd for 31 May. a. The bank statement balance is $18,200. The cash account balance is $14,824. Outstanding cheques totalled...

Q:

Bank Statement $0 Beginning Balance Deposits A. $10,000 D. 1,000 Checks 101 102 103 106 Bank service charges $ 500 500 158 489 100 1,747 11,000 Total Ending Balance $9,253 Financial Accounting 1100...

Q:

Problem 2 (5 marks) Using the following information, prepare a bank reconciliation and any adjusting entries necessary as a result of the bank reconciliation for Balmoral Ltd for 30 April a. The bank...

Q:

oblem 3 ( 25 marks) Using the following information, prepare a bank reconciliation for Dunbar Associates for August 31, 2017: - The bank statement balance is $4,690. - The cash account balance is...

Q:

Question 34 (10 points) Using the following information, prepare a bank reconciliation for Murack Co. for May 31, 2016: (a) The bank statement balance is $4,063 (b) The cash account balance is...

Q:

Chapter 7 QUIZ Using the following information, prepare a bank reconciliation, in the proper format, on proper accounting paper, for the Teal Company for November 30 of the current year. a) The bank...

Q:

Northern Reflections sells outdoor sporting equipment. You have been working for the company since i inception a few years ago and have been promoted to be their accounting manager. They use the...

Q:

ACCT2110 Financial Accounting Group Test 2 Problem 1. Schneider Book Store entered into the transactions listed below. uly 6 Purchased $1,700 of merchandise on credit, terms n/30. 8 Returned $200 of...

Q:

The canonical ensemble partition function of a thermodynamic system is given by Z = exp(brv) where Vis volume, T is absolute temperature and b is constant. The entropy(S) of the system in terms of...

Q:

Ha: Ï 0 Specify an alternative hypothesis for a correlation t-test. For each exercise, decide, at the 10% significance level, whether the data provide sufficient evidence to reject the null...

Q:

Which of the following sentences is correct for a potential investment where the model shows the following: 1 . Target rate of return = 1 5 . 0 % 2 . Levered IRR = 2 0 . 3 % Group of answer choices...

Q:

AFN equation Broussard Skateboard's sales are expected to increase by 15% from $7.4 million in 2019 to $8.51 million in 2020. Its assets totaled $5 million at the end of 2019. Broussard is already at...