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Hi, i have this problem question about accounting homework. Thanks for all help! An examination of the accounting records and the bank statement of the
Hi, i have this problem question about accounting homework. Thanks for all help!
An examination of the accounting records and the bank statement of the Evans Company at 31 March provides the following information: i The Cash account has a balance of $6351.98. it The bank statement shows a bank balance of $394l .33. iii The 31 March cash receipts of $3260.95 were deposited in the bank at the end of that day but were not recorded by the bank until 1 April. iv Cheques issued and mailed in March but not included among the cheques listed as paid on the bank statement were; Chemo No. 706 $339.33 cheque No. H7 212.00 v A bank service charge of $30 for March was deducted on the bank statement. vi A cheque received from a customer for $l85 in payment of his account and deposited by thc Evans Companyr was returned marked 'NSF' with the bank statement. vii interest of $20.42 earned on the business' cheque account was added on the bank statement. viii The Evans Company discovered that cheque no. 701, which was correctly,r written as $562 for the March rent. was recorded as $526 in the business' accounts. Required: :1 Prepare a bank reconciliation on 3| March. b Record the appropriate adjustments in the business' accounts. Calculate the ending balance in the Cash accountStep by Step Solution
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