Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. Nicole has asked you to prepare a bank reconciliation for NGS. According to her records, NGS's cash balance is $6,000 at December 31, but

image text in transcribed

2. Nicole has asked you to prepare a bank reconciliation for NGS. According to her records, NGS's cash balance is $6,000 at December 31, but the bank reports a balance of $5,500. a. The bank deducted $250 for an NSF check from a customer deposited on December 22. b. NGS has written checks totaling $3,500 that have not yet cleared the bank. c. The bank added $10 cash to the account for interest earned in December. d. NGS made a $3,480 deposit on December 31, which will be recorded by the bank in January. e. The bank deducted $10 for service charges. f. NGS wrote a check to a supplier on account for $300 but mistakenly recorded it as $30. NICOLE'S GETAWAY SPA Bank Reconciliation At December 31 Company's Books Ending Balance per Cash Account Bank Statement Ending Balance per Bank Statement Additions: Additions: Deductions: Deductions: Up-to-Date Cash Balance 0 Up-to-Date Cash Balance

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

Managerial Accounting Creating Value In A Dynamic Business Environment

Authors: Ronald Hilton, David Platt

13th Edition

1264100698, 9781264100699

More Books

Students also viewed these Accounting questions

Question

What is a multivariate data set?

Answered: 1 week ago

Question

What does stickiest refer to in regard to social media

Answered: 1 week ago

Question

Explain why you agree or disagree with this statement.

Answered: 1 week ago