Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

EQuestion Help The August 31 bank statement of Western Healthcare has just arrived from Federal Bank. To prepare the bank reconciliation, you gather the following

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
EQuestion Help The August 31 bank statement of Western Healthcare has just arrived from Federal Bank. To prepare the bank reconciliation, you gather the following data: E(Click the icon to view the data.) Read the reauirements Requirement 1. Prepare the bank reconciliation for Western Healthcare at August 31, 2018. Western Healthcare Bank Reconciliation August 31, 2018 Bank: ADD: Choose from any list or enter any number in the input fields and then continue to the next question. The August 31 bank statement of Western Healthcare has just arrived from Federal Bank. To prepare following data: (Click the icon to view the data.) Read the requirements. LESS: Choose from any list or enter any number in the input fields and then continue to the next ques Read the requirements. Books: ADD: LESS: Choose from any list or enter any number in the input fields and then continue to the next question. LESS: Requirement 2. Journalize any required entries from the bank reconciliation. Include an explanation Choose from any list or enter any number in the input fields and then continue to the next que Requirement 2. Journalize any required entries from the bank reconciliation. Include an explanation for each entry. (Record debits first, credits. Select the explanation on the last line of the jounal entry table.) Begin by preparing the journal entry to record the EFT collection. Date Accounts and Explanation Debit Credit Aug. 31 Choose from any list or enter any number in the innut fields and then continue to the novt aunation Next, jounalize the dividend revenue. Date Accounts and Explanation Debit Credit Aug. 31 Journalize the interest revenue. Choose from any list or enter any number in the input fields and then continue to the next question. Journalize the interest revenue. Date Accounts and Explanation Debit Credit Aug. 31 Journalize the total NSF checks. (Record one journal entry for both NSF checks.) Choose from any list or enter any number in the input fields and then continue to the neyt auestion Read the requirements. Journalize the total NSF checks. (Record one joumal entry for both NSF checks.) Accounts and Explanation Date Debit Credit Aug. 31 Journalize the bank charges. Choose from any list or enter any number in the input fields and then continue to the next question, Journalize the bank charges. Accounts and Explanation Debit Credit Date Aug. 31 Choose from any list or enter any number in the input fields and then continue to the next question. Data Table bank sta on, you gather the con to vie a. The August 31 bank balance is $5,460. rements. b. The bank statement includes two charges for NSF checks from customers. One is for $340 (#1) , and the other is for $140 ( #2) . c. The following Western Healthcare checks are outstanding at August 31: Check No. Amount bank cha 237 130 10 288 580 291 650 294 60 295 60 296 d. Western collects from a few customers by EFT.The August bank statement lists ny list or Done Print t in ePortfolio iData Table on, you gathe ank sta on to vi 650 294 ments. 295 60 60 296 d. Western collects from a few customers by EFT. The August bank statemernt lists a $1,300 EFT deposit for a collection on account. ank cha e. The bank statement includes two special deposits that Western hasn't recorded yet: $700 for dividend revenue, and $40 for the interest revenue Western earned on its bank balance during August. f. The bank statement lists a $80 subtraction for the bank service charge. g. On August 31, the Western treasurer deposited $350, but this deposit does not appear on the bank sttement. h. The bank statement includes a $900 deduction for a check drawn by Multi-State Freight Company. Western notified the bank of this bank error. i. Western's Cash account shows a balance of $3,600 August 31 on y list or Done Print in ePortfolio

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_2

Step: 3

blur-text-image_3

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

Auditor Because Freaking Miracle Worker Is Not A Job Title

Authors: Auditor Publishing

1st Edition

B0863X5YGQ, 979-8624478718

More Books

Students explore these related Accounting questions