Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

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

image text in transcribed
Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, its Cash account shows an $11,589 debit balance. Del Gato Clinic's June 30 bapk statement shows $10,555 on deposit in the bank. a. Outstanding checks as of June 30 total $1,829. b. The June 30 bank statement lists a $16 bank service charge c. Check No. 919, listed with the canceled checks, was correctly drawn for $467 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $476. d. The June 30 cash receipts of $2,856 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement Exercise 6-11 Adjusting entries from bank reconciliation LO P3 Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first occount field.) View transaction list Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions