Answered step by step
Verified Expert Solution
Question
1 Approved Answer
FALL Bank Reconciliation SATLY II Company has a cash balance in statement for the date shows a balance of 4 not yet cleared the bank.
FALL Bank Reconciliation SATLY II Company has a cash balance in statement for the date shows a balance of 4 not yet cleared the bank. Also a deposit in the amoun y has a cash balance in its hooks on December 31. in the amount of $4,000. The bank same date shows a balance of $4900 Itc hserved that cheques in the amount of $500 had bank. Also a deposit in the amount of $400 was made late on the l of December and the bank due to insufficient funds. A customer's note wing up on the bank statement. A check from Mr. Smith in the amount of $100 was returned by to insufficient funds. A customer's note was collected by the bank on the company's chart in the ont of S1,100 less a S50 service fee to the heat Thehakha ditional debit memorandum of 30 to e company for other miscellaneous service fees. The counts clerk wrote a check to pay the Utilities expense in the amount of $300 but mistakenly wrote in the records as $200 (the bank cashed it for the correct 300 dollar amount) this error needs to be corrected. c. Prepare a bank reconciliation in good form as of December 31 d. Prepare the adjusting general journal entries required to correct SATLY II Company's books Date PR Debit Credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started