Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

could you tell me how to get the right answer ? In completing the October 20 Times 3 bank reconciliation, the following information is available:

image text in transcribed

could you tell me how to get the right answer ?

In completing the October 20 Times 3 bank reconciliation, the following information is available: Cheques 435 and 488 totalling $821 were written in October but were not returned with the bank statement Bank service charges amounted to $35. A note plus interest was collected by the bank on the companys behalf in the amount of $10,800 (principal $10,000, interest $800). The company had written a cheque to settle an accounts payable with Paper Ltd. The cheque was correctly made out in the amount of $450; however, the companys bookkeeper had recorded it as $540. The cheques totalling $821 that were written but not returned with the bank statement would be reflected on the bank reconciliation as which of the following

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

Crypto Finance Law And Regulation

Authors: Joseph Lee

1st Edition

0367086611, 978-0367086619

More Books

Students also viewed these Finance questions

Question

9. Describe the characteristics of power.

Answered: 1 week ago