Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bamby's Grocery Store developed the following information for the mouth of March, 2021: Balance per books March 31 Balance per bank statement March 31 $

image text in transcribed
Bamby's Grocery Store developed the following information for the mouth of March, 2021: Balance per books March 31 Balance per bank statement March 31 $ 1,905 $11,400 1. Cheques written in March but still outstanding $8,000 2. Cheques written in February but still outstanding $2,800 3 Deposits of March 30 and 31 not yet recorded by bank $5,200. 4 NSF cheque of customer returned by bank $700. 5. Cheque No. 210 for $594 was correctly issued and paid by bank but incorrectly entered in the general journal as payment on account for $549. 6. Bank service charge for March was $50. 7. A payment on account was incorrectly entered in the general journal and posted to the Accounts Payable subsidiary ledger for $824 when Cheque No. 318 was correctly prepared for $284. The cheque cleared the bank in March A review of the bank statement revealed Bamby's Grocery received electronic payments from customers on account of $4,150 during March 8 Instructions Prepare a bank reconciliation at March 31, 2021

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

HR Audit Audit Your Most Precious Resources

Authors: DR. SIBRAM NISONKO

1st Edition

197357120X, 978-1973571209

More Books

Students also viewed these Accounting questions