Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 9.7 Preparing a bank reconciliation statement. LO 9-9 Di Stefano Office Supply Company received a bank statement showing a balance of $67,705 as of

image text in transcribed
image text in transcribed
image text in transcribed
Exercise 9.7 Preparing a bank reconciliation statement. LO 9-9 Di Stefano Office Supply Company received a bank statement showing a balance of $67,705 as of March 31, 2019. The firm's records showed a book balance of $69,451 on March 31. The difference between the two balances was caused by the following items 1. A debit memorandum for $44, which covers the bank's collection fee for the note 2 A deposit in transit of $3,400 3. A check for $242 issued by another firm that was mistakenly charged to Di Stefano's account 4. A debit memorandum for an NSF check of $6.105 issued by Wozniak Construction Company, a credit customer 5. Outstanding checks: Check 3782 for $1,900; Check 3840 for $145 6. A credit memorandum for a $6,000 noninterest-bearing note receivable that the bank collected for the firm Prepare a bank reconciliation statement for the firm as of March 31 and the necessary journal entries from the statement Complete this question by entering your answers in the tabs below. General Journal Bank Rec Prepare a bank reconciliation statement for the firm as of March 31 DI STEFANO OFFICE SUPPLY COMPANY Bank Reconciliation Statement March 31,2019 Balance on bank statement Additions Total Deductions Bank Rec Stmt General Prepare a bank reconciliation statement for the firm as of March 31. DI STEFANO OFFICE SUPPLY COMPANY Bank Reconciliation Statement March 31, 2019 Balance on bank statement Additions Total Deductions: Total outstanding checks Adjusted bank balance Balance in books Additions: Deductions: Adjusted book balance Bank Rec Stmt General Prepare the necessary journal e31, 2019 from the statement. (If no entry is required for a particular transacti "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the bank collection fee. es Note: Enter debits before credits. Date General Journal Debit Credit Mar 31, 2019 Record entry Clear entry View general journal Bank Rec Stmt

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 Environmental Audit And Business Strategy Financial Times

Authors: Grant Ledgerwood

1st Edition

0273038508, 978-0273038504

More Books

Students also viewed these Accounting questions

Question

Distinguish between formal and informal reports.

Answered: 1 week ago