Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all ments by check. At the close of

image text in transcribed

Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all ments by check. At the close of business on June 30, 2017, its Cash account shows an $11,589 ance. Del Gato Clinic's June 30 bank statement shows $10,555 on deposit in the bank. Prepare a reconciliation for Del Gato Clinic using the following information: a. Outstanding checks as of June 30 total $1,829. b. The June 30 bank statement lists a $16 bank service charge. Exercise 8-9 Bank reconciliation P3 c. Check No. 919, listed with the canceled checks, was correctly drawn for $467 in payment of a s bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a ce Cash in the amount of $476. Check Recondied bal d. The June 30 cash receipts of $2,856 were placed in the bank's night depository after basking hwe $ 11,582 and were not recorded on the June 30 bank statement

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