Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone please help me with just the journal entries? I've already answered the first part of the problem I just need the entries. The

Can someone please help me with just the journal entries? I've already answered the first part of the problem I just need the entries. image text in transcribed
The following information was obtained regarding the April 30, 2020 bank statement and Cash account regarding Beavis Company: 1) Beavis's Cash T-account on April 30 showed a balance of $3,610 while the banks statement on that date showed the balance to be $4,740. 2) A check Beavis wrote to a creditor for $94 was incorrectly recorded in the cash payments journal as $49. 3) Outstanding checks totaled $460. 4) The April bank charges were $15. 5) A $170 deposit made by Beavis on April 30th was made too late to appear on the April bank statement 6) The bank notified Beavis that a check for $100 received from a customer, Butthead Company, bounced. 7) The bank collected a note for Beavis from a customer, $1.000. REQUIRED: 1) Prepare the April 30th bank reconciliation 2) Prepare the necessary correcting journal entries for Beavis

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

New Approach To Financial Accounting No Need Of Cramming Formats

Authors: Samuel A. Olowoniyi ACA

1st Edition

148253150X, 978-1482531503

More Books

Students also viewed these Accounting questions

Question

Why is it important to practice your presentation?

Answered: 1 week ago

Question

Develop skills for building positive relationships.

Answered: 1 week ago

Question

Describe techniques for resolving conflicts.

Answered: 1 week ago

Question

Give feedback effectively and receive it appropriately.

Answered: 1 week ago