Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

base on the informantion prepare a bank reconciliation and the required journal entries The following data have been gathered for Rocky Candi Corporation for the

base on the informantion prepare a bank reconciliation and the required journal entries
image text in transcribed
The following data have been gathered for Rocky Candi Corporation for the month ended September 30, 2019. The bank statement has a balance of $8,936. The September 30, 2019, book balance was $3,200. There was an EFT deposit of $1,800 on the bank statement for the monthly rent from a tenant. The bookkeeper had erroneously recorded a $50 cheque as $500. The cheque was to settle an account payable. The bank statement revealed $50 in service charges. Cheques #322 and #330 for $260 and $285 were not returned with the bank statement. A deposit made on September 29, 2019, for $1.250 did not appear on the bank statement. A deposit of $500 made on September 10 was erroneously credited to Rocky Candi's account by the bank for $5,000. . A bank debit memo indicated an NSF cheque for $259

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_2

Step: 3

blur-text-image_3

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

Contemporary Auditing Real Issues And Cases

Authors: Michael C. Knapp

7th Edition

0324658052, 978-0324658057

More Books

Students also viewed these Accounting questions