The following information was available to prepare bank reconciliation on June 30: a- Our books show...
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The following information was available to prepare bank reconciliation on June 30: a- Our books show a balance of $9,900, but the bank statement balance was $12,500 b- Bank statement shows a collection of $3,000 from notes receivable, and $50 interest earned, both amounts were credited to our account. c- June 30 deposit of $2,000 did not appear on bank statement. d- Bank statement showed $40. Bank charges and $200 for NSF cheque received from customer e- Outstanding cheques for June totaling $3,380. f- Discovered a bank error $1,500 for a deposit that was not credited to our account, and another error for cheque payment of $540. for utilities that was entered by our bookkeeper as $450. Required: 1- Prepare bank reconciliation for the month of June. 2- Prepare the required General Journal entries I The following information was available to prepare bank reconciliation on June 30: a- Our books show a balance of $9,900, but the bank statement balance was $12,500 b- Bank statement shows a collection of $3,000 from notes receivable, and $50 interest earned, both amounts were credited to our account. c- June 30 deposit of $2,000 did not appear on bank statement. d- Bank statement showed $40. Bank charges and $200 for NSF cheque received from customer e- Outstanding cheques for June totaling $3,380. f- Discovered a bank error $1,500 for a deposit that was not credited to our account, and another error for cheque payment of $540. for utilities that was entered by our bookkeeper as $450. Required: 1- Prepare bank reconciliation for the month of June. 2- Prepare the required General Journal entries I
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The image contains text that outlines a scenario needed to prepare a bank reconciliation statement for the month of June There are several items listed that detail the differences between a companys c... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
Posted Date:
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