Transactions and balances for Diana Wonder are provided below: 31 Jul 2020 Bank Statement balance $...
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Transactions and balances for Diana Wonder are provided below: 31 Jul 2020 Bank Statement balance $ 78,495 31 Jul 2020 balance per Diana's records $ 77,370 Diana received a cash payment that she has not deposited $ 380 Diana issued a cheque payable to Michael Hill Enterprises that has not been presented to the bank $ 1,499 Bank charges for the month of July were $10 Interest on bank balance credited to Diana's account $ 16 Required: Perform a bank reconciliation. a) Reconcile Diana Wonder's month end cash balance as of 31 Jul 2020. (5 marks) b) Baselon your analysis, propose the adjusting entries (if any). (2 marks) Transactions and balances for Diana Wonder are provided below: 31 Jul 2020 Bank Statement balance $ 78,495 31 Jul 2020 balance per Diana's records $ 77,370 Diana received a cash payment that she has not deposited $ 380 Diana issued a cheque payable to Michael Hill Enterprises that has not been presented to the bank $ 1,499 Bank charges for the month of July were $10 Interest on bank balance credited to Diana's account $ 16 Required: Perform a bank reconciliation. a) Reconcile Diana Wonder's month end cash balance as of 31 Jul 2020. (5 marks) b) Baselon your analysis, propose the adjusting entries (if any). (2 marks)
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a Bank Reconciliation Balance as per bank statement 7849500 Add Deposit O... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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