Answered step by step
Verified Expert Solution
Question
1 Approved Answer
company p has the fallowing US marks) Company P has the following information: balance per books at October 31. 541.900 85, November receipts, $173,840 91:
company p has the fallowing US marks) Company P has the following information: balance per books at October 31. 541.900 85, November receipts, $173,840 91: November disbursements, $166,560.22, balance per bank statement at November 30, $56,322.20. The following cheques were outstanding at November 30 #1224 #1230 #1232 #1233 I $1,675 59 2,511 20 3,673 25 49725 Included with the November bank statement and not recorded by the business were a bank debit memo for $31.10 covering bank charges for the month, a debit memo for $624.13 for a customer's cheque returned and marked NSF and a credit memo for $1,411.00 representing bond interest collected by the bank in the name of Company P. Cash on hand at November 30 that had been recorded and was not yet deposited amounted to $1.972.40. Instructions: 1. Prepare a bank reconciliation to the correct balance at November 30 for Company P 2. Prepare any journal entries that are needed to adjust the Cash account at November 30. Answer for Q2 below (only work performed in table below will be marked)
company p has the fallowing
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