Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A. For each of the following items Indicate In which columns the reconciling Items would appear. Question 1 is an example. 1| ,_,5_ _?T_ November

image text in transcribed
image text in transcribed
A. For each of the following items Indicate In which columns the reconciling Items would appear. Question 1 is an example. 1| ,_,5_ _?T_ November service charge of $25 Is Included on bank statement. _ The bank collected a 51.000 note receivable for the rm In November plus $40 Interest. The rm has not vet recorded this receipt. _ An "NSF" check in the amount of $35? was returned with the November bank statement. This check will be redeposited in December. The rm has not vet made an entrlir for this "NSF\" check. All $9.2m of checks written in October. which had not cleared the bank at October 31. cleared the bank in November. October service charge of $23 Is included In book disbursements for November. A $5.1oo deposit in transit is included in book receipts for November. _ The bank, in error, credited the rm's account for $420 in November for another flrm's deposit. A check written In December for saw was written in the check register in error In the amount of $?6{I. This check cleared the bank In November for ease. Both the debit to Rent Expense and the credit were overstated as a result of this error in the books. The initial $43130 deposit shown on the November bank statement was Included in October's book receipts. $3,22D of checks written in November have not cleared the bank bv November 30. 5. Prepare the entries that should be recorded to make the books complete and accurate at November 30

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

Advanced Accounting

Authors: Susan S. Hamlen

3rd Edition

1618531514, 978-1618531513

More Books

Students also viewed these Accounting questions

Question

What would you do about the verbal homophobic insults?

Answered: 1 week ago

Question

8. How can an interpreter influence the message?

Answered: 1 week ago

Question

Subjective norms, i.e. the norms of the target group

Answered: 1 week ago