Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 You are to complete the June 30 bank reconciliation for Mace, Inc. using the following information: (15 points) a Outstanding checks: No. 181 No.

1 You are to complete the June 30 bank reconciliation for Mace, Inc. using the following information: (15 points) a Outstanding checks: No. 181 No. 184 No. 185 b Check no. 162 (for Repair Expense) was written for $420 but erroneously recorded in Mace's records as $330. $350 $300 $225 C. Deposit in transit .......... $3,300 d. Note collected by bank as Mace's agent (no interest) .$2,000 e. NSF check of I.M. Broke...... $250 f. Bank service charge ........ $30 Mace, Inc. Bank Reconciliation Balance per bank statement, June 30. Add: June 30, 2021 Less: Adjusted balance Balance per depositor's records, June 30. Add: Less: $13,265 $ SA $ $14,060 $ Adjusted balance (as above).. $ 2 Give in general journal form the entry or entries necessary to correct Mace's records as of June 30. (Explanations may be omitted; one compound journal entry is acceptable.) (10 points) 2021 June 30 General Journal Debit Credit

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

Step: 3

blur-text-image

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

Vba Advanced Advanced Techniques For Finance Pros

Authors: Hayden Van Der Post

1st Edition

979-8864994818

More Books

Students also viewed these Accounting questions

Question

Explain how cultural differences affect business communication.

Answered: 1 week ago

Question

List and explain the goals of business communication.

Answered: 1 week ago