Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

1 please 1- A company received a bank statement for the month of November 2022 , which showed a balance per bank of 4.000TL. Other

1 please
image text in transcribed
1- A company received a bank statement for the month of November 2022 , which showed a balance per bank of 4.000TL. Other information are as follows: - The bank returned an NSF check from a customer for 600 TL. - The company recorded cash receipts of 540TL on November 30 but this amount does not appear on the bank statement. - A check correctly written and paid by the bank for 1.940 TL was incorrectly recorded in the journals for 1.490TL. The check was a payment on account. - Checks which were written in October but still had not been presented to the bank for payment at November 30 amounted to 1.230TL. - The bank included a credit memorandum for 2.030 TL which represents a collection of a customer's note by the bank for the company; principal amount of the note was 1.900TL and the remainder was interest. - The bank included a 200 TL debit memorandum for service charges for the month of November. - Checks written in November which have not been paid by the bank at November 30 amounted to 1.330TL. Using the above information, you make a reconciliation and determine the balance per book (before adjustments) for the company as... a) 300TL b) 1.200TL c) 2.960TL d) 3.600TL

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Development Of A Methodology For Customizing Insider Threat Auditing On A Linux Operating System

Authors: William T. Bai, Air Force Institute Of Technology (U.S.)

1st Edition

1249449847, 978-1249449843

More Books

Students explore these related Accounting questions

Question

=+221 .1 Answered: 1 week ago

Answered: 3 weeks ago