Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CHECK FIGURE: Adjusted book balance = $11,090 Kesler Co, deposits all receipts intact on the day received and makes all payn 2017, after all posting

image text in transcribed
CHECK FIGURE: Adjusted book balance = $11,090 Kesler Co, deposits all receipts intact on the day received and makes all payn 2017, after all posting was completed, its Cash account showed an $11,04 Kesler's July 31 bank statement showed only $9,860 on deposit in the bank on lowing information. a. Outstanding cheques, $2,695. b. Included with the July cancelled cheques returned by the bank bank services. e. Cheque #919, returned with the cancelled cheques, was corr payment of the utility bill and was paid by the bank on July 1 recorded with a debit to Utilities Expense and a credit to Cash as d. The July 31 cash receipts, $3,925, were placed in the bank's night hours on that date and were unrecorded by the bank at the time was prepared. Required a. Prepare a bank reconciliation for Kesler Co. at July 31. b. Give the journal entries that Kesler Co. should make as a result bank reconciliation in part (a). CHECK FIGURE: Adjusted book balance = $11,090 Kesler Co, deposits all receipts intact on the day received and makes all payn 2017, after all posting was completed, its Cash account showed an $11,04 Kesler's July 31 bank statement showed only $9,860 on deposit in the bank on lowing information. a. Outstanding cheques, $2,695. b. Included with the July cancelled cheques returned by the bank bank services. e. Cheque #919, returned with the cancelled cheques, was corr payment of the utility bill and was paid by the bank on July 1 recorded with a debit to Utilities Expense and a credit to Cash as d. The July 31 cash receipts, $3,925, were placed in the bank's night hours on that date and were unrecorded by the bank at the time was prepared. Required a. Prepare a bank reconciliation for Kesler Co. at July 31. b. Give the journal entries that Kesler Co. should make as a result bank reconciliation in part (a)

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

The Partnership And Alliances Audit

Authors: David Connell, Peter J. LaPlaca, Kenneth Wexler

1st Edition

1907766065, 978-1907766060

More Books

Students also viewed these Accounting questions

Question

Is conflict always unhealthy? Why or why not? (Objective 4)

Answered: 1 week ago