Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello, I need help understanding how to prepare the bank portion of the reconciliation and then the book portion of reconciliation, Thank you! Homework: Chapter

Hello, I need help understanding how to prepare the bank portion of the reconciliation and then the book portion of reconciliation, Thank you!

image text in transcribed

Homework: Chapter 8 Homework Score: U of 20 pts P8-27A (similar to) HW Score: 0%, at 30 pts The December cash records of Buity Insurance folow: Adcitional data for the bank reconciistin llow Buty s2sh account shows a balance ct S16 &u at December 31 On Uecember 11, Buty Insurance recalved te tollowng bank statannent: EEl (Cick the ican to view the December bank statement.) a. The EFT credit wss receipt ofrent. The EFT debit wss n insurance peyment b. The NSF check wss recched from customer Read the rqunts Requirement 1. Prepare te bank reconcliation of Butty Incuranc at Deccmber 31, 2010. controller mistakenty recorded the check for $1.090 Duffy Insurance Bunk Statenent for December nata Tahie Baginning Balance December 31, 2018 Dec Dcc ash Racaipra Cash Paymenrs EFT S 550 Cash Ueblt Dec 3 1416 Dec 15 Dcc 10 Dec. 22 LESS 2400 2200 10,400 1418 700 1,090 1.470 1.700 ,790 Dec8 Dcc. 11 (check no. 1415) N3F TCO De 22 (check mo. 1417) Dcc. 29 (check no. 1418) ar 1 (chack no 1419) 170 Print Donc 700 S 19,255 Ending Halanc Explanations: BC bank colection; EFT clsctronk funds tranafer Activate Windows Choose from any ist or enter any number in the inpur felds and then click Check Answer. Check ArnsWE eraning

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

Auditing And Assurance Services

Authors: William Messier, Steven Glover, Douglas Prawitt

8th Edition

ISBN: 0078025435, 9780078025433

More Books

Students also viewed these Accounting questions

Question

Describe the four types of legacies, and give examples of each.

Answered: 1 week ago