Question
9Q. The balance in Happ, Inc.s general ledger Cash account was $12,430 at September 30, before reconciliation. The September 30 balance shown in the bank
9Q.
The balance in Happ, Inc.s general ledger Cash account was $12,430 at September 30, before reconciliation. The September 30 balance shown in the bank statement was $11,130. Reconciling items included deposits in transit, $1,200; bank service charges, $70; NSF check written by a customer and returned with the bank statement, $450; outstanding checks, $380; and interest credited to the account during September but not recorded on the companys books, $40.
| Required: | |
| a. | Show the reconciling items in a horizontal model that should be prepared to reflect the reconciling items for Happ, Inc., at September 30. (Enter decreases to account balances as a negative.) |
| Assets | = | Liabilities | + | Stockholder's Equity | Net Income | = | Revenues | - | Expenses |
| $_________________ | = | $_________________ | + | $_________________ | $_________________ | = | $_________________ | - | $_________________ |
| $_________________ | = | $_________________ | + | $_________________ | $_________________ | = | $_________________ | - | $_________________ |
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Entrepreneurship
Authors: Andrew Zacharakis, William D Bygrave
5th Edition
1119563097, 9781119563099
