Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can you solve this by written hand in this form : Yummy Sweets company bank statement for the month of October shows a balance per
can you solve this by written hand
Yummy Sweets company bank statement for the month of October shows a balance per bank of $63,487 on October 31, 2019. On this date, the balance of cash per books is $63,724. Using the below information, prepare the bank reconciliation for Yummy Sweets company. 1. The statement included a debit memo of $32 for the printing of additional company checks. 2. On October 11, the company issued check no. 342 for $2,497 to Sofia Aron on account. The check which cleared the bank in October, was incorrectly journalized and posted by Yummy Sweets company for $2,679. 3. October 31 deposits of $1,458 (Received by bank on November 1). 4. Outstanding checks on October 31 totalled $2,431. 5. Yummy Sweets company wrote check no. 322 for $4,392 and the bank correctly paid that amount. However, Yummy Sweets recorded the check as $4,329. 6. Included with the cancelled checks was a check issued by Pure Diamond company to Sam Taylor for $1,275 that was incorrectly charged to Yummy Sweets company by the bank. 7. Bank collected $3,200 note for Yummy Sweets Company in October, plus interest $55. The collection fees were $28. The collection has not been recorded by Yummy Sweets, and no interest has been accrued. 8. On October 31, the bank statement showed an NSF charge of $3,249 for a check issued by Tomas Adison, a customer, to Yummy Sweets company on account. Prepare the Yummy Sweets company Bank reconciliation statement for October 2019 LAIRD COMPANY Bank Reconciliation April 30, 2017 Cash balance per bank statement Add: Deposits in transit $15.90745 2,201.40 18,108.85 Less: Outstanding checks No. 453 No. 457 No. 460 Adjusted cash balance per bank $3,000.00 1,401.30 1.502.70 5,904.00 $12,204.85 $11,589.45 Cash balance per books Add: Collection of note receivable $1,000, plus interest earned $50, less collection fee $15 Error in recording check no. 443 $1.035.00 36.00 1,071.00 12.660.45 Less: NSF check Bank service charge Adjusted cash balance per books 425.60 30.00 455 60 S12.204.RS in this form :
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started