The following errors were found when the controller at Oriole Camping was doing the July 31...
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The following errors were found when the controller at Oriole Camping was doing the July 31 bank reconciliation. 1. 2. 3. 4. On July 9, Oriole recorded a deposit as $2,064. The correct amount was $6,420. The deposit was for the collection of an account receivable and the bank recorded it correctly. On July 14, Oriole recorded a payment on account as $2,700. The correct amount was $2,070. It was correctly recorded by the bank. On July 16, Oriole recorded a payment for the purchase of supplies as $580. The correct amount was $850. It was correctly recorded by the bank. On July 22, the bank recorded a deposit as $840. The correct amount was $480. This error was corrected by the bank on July 23. Oriole had correctly recorded the deposit. 5. On July 25, Oriole recorded a deposit as $675. The correct amount was $765. The deposit was for the collection of an account receivable. This deposit was correctly recorded by the bank on July 28. 6. On July 31, the bank debited Oriole's account $470 for a cheque written by another company, Country Land, because the account number on the cheque had been damaged. The bank employee who looked up the account number made a mistake. The following errors were found when the controller at Oriole Camping was doing the July 31 bank reconciliation. 1. 2. 3. 4. On July 9, Oriole recorded a deposit as $2,064. The correct amount was $6,420. The deposit was for the collection of an account receivable and the bank recorded it correctly. On July 14, Oriole recorded a payment on account as $2,700. The correct amount was $2,070. It was correctly recorded by the bank. On July 16, Oriole recorded a payment for the purchase of supplies as $580. The correct amount was $850. It was correctly recorded by the bank. On July 22, the bank recorded a deposit as $840. The correct amount was $480. This error was corrected by the bank on July 23. Oriole had correctly recorded the deposit. 5. On July 25, Oriole recorded a deposit as $675. The correct amount was $765. The deposit was for the collection of an account receivable. This deposit was correctly recorded by the bank on July 28. 6. On July 31, the bank debited Oriole's account $470 for a cheque written by another company, Country Land, because the account number on the cheque had been damaged. The bank employee who looked up the account number made a mistake.
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Answer Oriole Camping Bank Reconciliation Errors July 31 These are the errors found during the bank ... View the full answer
Related Book For
Accounting Principles Part 1
ISBN: 978-1118306789
6th Canadian edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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