Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Harry Koron Corporation operates four bowing alleys. The business just received the October 31, 2024, bank statement from City National Bank, and the statement shows

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Harry Koron Corporation operates four bowing alleys. The business just received the October 31, 2024, bank statement from City National Bank, and the statement shows an endi collection of $430, a service charge of $10, NSF checks totaling $80, and a $29 charge for printed checks. In reviewing the cash records, the business identified outstanding checks the business recorded a $270 check by debiting Salaries Expense and crediting Cash for 527 The business's Cash account shows an October 31 balance of $2,122 Read the requirements Requirement 1. Prepare the bank reconciation at October 31 Prepare the bank portion of the reconciliation followed by the book portion of the reconciliation Harry Keenen Corporation Bank Reconciliation October 11, 2024 Bank ADD LESS Books ADD LES Cromary it or ny number in the input fields and then continue to the next question MacBook Air esc 30 888 ad DI DD 99 F1 FO # $ & de LC 2 - 3 1 7 the October 31, 2024, bank statement from City National Bank, and the statement shows an ending balance of $885. Listed on the statement are an EFT rent harge for printed checks. In reviewing the cash records, the business identified outstanding checks totaling $490 and a deposit in transit of $1,795. During October, Cash for $27. The business's Cash account shows an October 31 balance of $2,122. the reconciliation MacBook Air upures our bowling alleys. The business just received the October 31, 2024, bank statement from City National Bank, and the statement shows an endi lection of $430, a service charge of $10, NSF checks totaling $80, and a $29 charge for printed checks. In reviewing the cash records, the business identified outstanding checks ine business recorded a $270 check by debiting Salaries Expense and crediting Cash for $27. The business's Cash account shows an October 31 balance of $2.122 Read the requirements Requirement 2. Journalize any transactions required from the bank reconciliation (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Begin with the EFT collection Date Accounts and Explanation Debit Credit Oct. 31 Journalize the entry to correct the error. Date Accounts and Explanation Oct 31 Debit Credit Inumire the artisment in the NAF herk Choose from any list or enter any number in the input fields and then continue to the next question MacBook Air Do 8 9 Read the requirements Journalize the adjustment for the NSF check Date Accounts and Explanation Debit Credit Oct. 31 Journalize the charge for printed checks. (Do not record the bank service charges, that will be done in the next step. Assume the cost of printe Debit Accounts and Explanation Date Credit Oct. 31 Journalize the service charges. Dahle Anne and Eunannten Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air ALS Journalize the charge for printed checks. (Do not record the bank service charges, that will be done in the next step. Assume Date Accounts and Explanation Debit Credit Oct. 31 Journalize the service charges. Date Accounts and Explanation Debit Credit Oct. 31 Choose from any list or enter any number in the input fields and then continue to the next

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

People Centric Skills Interpersonal And Communication Skills For Financial Professionals

Authors: Danny M. Goldberg

2nd Edition

1119669308, 978-1119669302

More Books

Students also viewed these Accounting questions