Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. The following information is available for Melita Company: a. Cash on the books as of June 30,2022 amounted to S4,098.00. Cash on the bank

image text in transcribed
2. The following information is available for Melita Company: a. Cash on the books as of June 30,2022 amounted to S4,098.00. Cash on the bank statement for the same date was $7,735.00. b. Cash sales of $742 had been erroneously recorded in the cash receipts journal as $724 c. A depnsit of $425, representing cash receipts @ June 30 did not appear on the bank statement. d. The bank service charge for June amounted to $35.00 e. The bank collected $2,475.00 for Melita Company on a note. The face value of the note was $2,400.00 f. An NSF check for $256 from a customer, Indigo, was returned with the statement. g. Outstanding checks totaled $1,860. REQUIRED: (1) Prepare a bank reconciliation for Melita Company as of June 30, 2022 (2) Prepare the necessary journal entries from the reconciliation. [12 points]

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

Accounting In Business

Authors: R. J. Bull

5th Edition

0408014865, 978-0408014861

More Books

Students also viewed these Accounting questions

Question

3. How does Mathieu respond to failure?

Answered: 1 week ago

Question

=+what you can edit out yet still get the message across.

Answered: 1 week ago

Question

=+3. How could you extend the campaign creatively?

Answered: 1 week ago