 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Record the necessary journal entries from the following bank reconciliation inform
Bank Balance, July 31, 2011 $28,542
Checkbook Balance July 31, 2011 $29,344 Bank collection of note receivable $1,545 210 interest Bank service charge $75 Deposits in transit $3,145 Outstanding checks $2,685 NSF check of customer $770 Correction of book error(check#456 written for $280, recorded at $28)-maintenance expense I have done it but my bank balance and book balance are not matching, there is a difference of $1000. I have done this: Cash balance from bank statement $28,542 Add: Deposit in transit $3,145 $3,145 Deduct: Outstanding checks $2,685 ($2,685) Adjusted cash balance $29,002 Cash balance from company records $29,344 Add: Notes collected by bank $1545 Interest on note 210 1,755 $31,099 Deduct: Bank service charge $ 75 NFS check of customer 770 Error in recording check #456 252 (1097) Adjusted cash balance 30,002 |
||||
Check out some similar questions!
The December 31, 2012 balance sheet of Wolfe Co. Included the following items: 7.5% bonds payable due December 31, 2020 $1,600,000 Unamortized discount on bonds payable 64,000 The bonds were issued on December 31, 2010 at 95, with interest payable on June 30 and December 31 (use...
1. Received cash from rose earned $ 63 2. Paid cah for rent of garage for April $ 25 3. acquired supplies on account from ACER Company $ 15 4. Paid fuel expenses of $ 33 7. Got repair service on account from Apple Company $ 22 10. Received cash from Rose earned, $ 50 13. Paid cleaning...
(a) On June 1, 2010, XYZ, Inc. issued $600,000, 6% bonds for $587,640, which includes accrued interest. Interest is payable semiannually on February 1 and August 1 with the bonds maturing on February 1, 2020. The bonds are callable at 102. (b) On August 1, 2010, XYZ paid interest on the bonds and...
Phill Co. has delivery equipment that cost $54,000, a salvage value of $4000, and a five year life. The asset was purchased on January 1, 2006 and for disposed on January 1, 2008. Phill Co. uses the straight-line method of depreciation. Instructions Record journal entries for the disposal...
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
