The following information was available for Anderson Company for the month ended May 31, 2020. (a)...
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The following information was available for Anderson Company for the month ended May 31, 2020. (a) The book balance at May 31, 2020 was $3,890.22. (b) The bank balance at May 31, 2020 was $5,660.22. (c)Outstanding cheques amounted to $6,310. (d)The May 31st cash receipts of $5,600 were deposited but have not yet appeared on the bank statement. (e)A $50 debit memorandum for cheques printed by the bank (bank charges) was included with the cancelled cheques. (1) A customer's note for $1,000 was collected by the bank. In addition, interest on the note was S110. (g)The bank incorrectly recorded a cheque payment of $1,600 as $1,500 (bank error). Prepare a bank reconciliation for Anderson Company at May 31, 2020. TEOD I The following information was available for Anderson Company for the month ended May 31, 2020. (a) The book balance at May 31, 2020 was $3,890.22. (b) The bank balance at May 31, 2020 was $5,660.22. (c)Outstanding cheques amounted to $6,310. (d)The May 31st cash receipts of $5,600 were deposited but have not yet appeared on the bank statement. (e)A $50 debit memorandum for cheques printed by the bank (bank charges) was included with the cancelled cheques. (1) A customer's note for $1,000 was collected by the bank. In addition, interest on the note was S110. (g)The bank incorrectly recorded a cheque payment of $1,600 as $1,500 (bank error). Prepare a bank reconciliation for Anderson Company at May 31, 2020. TEOD I
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Answer rating: 100% (QA)
Bank Reconciliation Balance as per bank statement 566022 Add Deposit in Transit 560000 1126022 Deduc... View the full answer
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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