2. Transaction details involving the Jones Company's Cash account per its book follow. Cash Account Balance...
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2. Transaction details involving the Jones Company's Cash account per its book follow. Cash Account Balance June 1 23,900 Deposits* 12,300 13,220 Checks** *Deposits: **Checks: June 8 3,000 #60 1,100 June 17 4,500 #61 1,000 June 22 2,100 #62 900 June 30 2,700 #63 2,000 12,300 | #64 1,420 #65 400 #66 3,000 #67 2,100 #68 1,300 13,220 3. A summary bank reconciliation at May 31 follows. Bank balance Add deposits outstanding $23,000 2,000 Deduct check #59 outstanding (1,100) Book balance $23,900 Required a. Prepare the June bank reconciliation from this information. Note: Use negative signs to indicate a subtraction in the schedules that follow. Note: If an item isn't required for the reconciliation, select "N/A" as the description and leave the answer blank (zero). Bank Ending balance, June 30 Add: Less: $ Adjusted balance per bank $ Book Ending balance, June 30 $ Add: Less: 0 Adjusted balance per book $ 0 b. Prepare any period-end adjusting entries required. Date June 30 Account Name To record period-end adjusting entry. Dr. Cr. Preparing a Bank Reconciliation and Recording Adjusting Entries The following information pertains the cash reconciliation process for Jones Company. 1. Jones Company received its June 30 bank statement. A summary of this statement follows. Bank balance, June 1 $23,000 11,600 Deposits and other credits Checks and other debits (12,120) Interest earned on this statement 100 Bank balance, June 30 $22,580 Account transactions reflected in the bank statement follow. Deposits June 1 $2,000 June 8 3,000 June 17 4,500 June 22 2,100 Total $11,600 Checks June 2 #61 $1,000 June 7 #63 2,000 June 9 #66 3,000 June 14 #64 1,420 June 17 #65 400 June 23 #60 1,100 June 27 #67 2,100 June 28 #59 1,100 June total for checks: $12,120 2. Transaction details involving the Jones Company's Cash account per its book follow. Cash Account Balance June 1 23,900 Deposits* 12,300 13,220 Checks** *Deposits: **Checks: June 8 3,000 #60 1,100 June 17 4,500 #61 1,000 June 22 2,100 #62 900 June 30 2,700 #63 2,000 12,300 | #64 1,420 #65 400 #66 3,000 #67 2,100 #68 1,300 13,220 3. A summary bank reconciliation at May 31 follows. Bank balance Add deposits outstanding $23,000 2,000 Deduct check #59 outstanding (1,100) Book balance $23,900 Required a. Prepare the June bank reconciliation from this information. Note: Use negative signs to indicate a subtraction in the schedules that follow. Note: If an item isn't required for the reconciliation, select "N/A" as the description and leave the answer blank (zero). Bank Ending balance, June 30 Add: Less: $ Adjusted balance per bank $ Book Ending balance, June 30 $ Add: Less: 0 Adjusted balance per book $ 0 b. Prepare any period-end adjusting entries required. Date June 30 Account Name To record period-end adjusting entry. Dr. Cr. Preparing a Bank Reconciliation and Recording Adjusting Entries The following information pertains the cash reconciliation process for Jones Company. 1. Jones Company received its June 30 bank statement. A summary of this statement follows. Bank balance, June 1 $23,000 11,600 Deposits and other credits Checks and other debits (12,120) Interest earned on this statement 100 Bank balance, June 30 $22,580 Account transactions reflected in the bank statement follow. Deposits June 1 $2,000 June 8 3,000 June 17 4,500 June 22 2,100 Total $11,600 Checks June 2 #61 $1,000 June 7 #63 2,000 June 9 #66 3,000 June 14 #64 1,420 June 17 #65 400 June 23 #60 1,100 June 27 #67 2,100 June 28 #59 1,100 June total for checks: $12,120
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Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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