Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Homework: Chapter 1 RUITEWUI 6 of 6 (1 complete) Score: 0 of 50 pts P7-28A (book/static) The August 31 bank statement of Well Healthcare has

image text in transcribed
image text in transcribed
image text in transcribed
Homework: Chapter 1 RUITEWUI 6 of 6 (1 complete) Score: 0 of 50 pts P7-28A (book/static) The August 31 bank statement of Well Healthcare has just arrived from United Bank. To prepare the bank reconciliation, you gather the following data: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare the bank reconciliation for Well Healthcare at August 31, 2018. Well Healthcare Bank Reconciliation August 31, 2018 ADD: LESS: Choose from any list or enter any number in the input fields and then click Check Answer. parts b remaining Clear All Unit i Data Table Aug 600 a. The August 31 bank balance is $4,540. b. The bank statement includes two charges for NSF checks from customers. One is for $380 (#1), and the other is for $180 (#2). C. The following Well Healthcare checks are outstanding at August 31: Check No. Amount 237 $ 80 288 190 291 570 294 295 296 d. Well collects from a few customers by EFT. The August bank statement lists a $1,200 EFT deposit for a collection on account. e. The bank statement includes two special deposits that Well hasn't recorded yet: $800 for dividend revenue, and $120 for the interest revenue Well earned on its bank balance during August. f. The bank statement lists a $50 subtraction for the bank service charge. g. On August 31, the Well treasurer deposited $260, but this deposit does not appear on the bank statement. h. The bank statement includes a $1,050 deduction for a check drawn by Multi-State Freight Company. Well notified the bank of this bank error. i. Well's Cash account shows a balance of $2,800 on August 31. 30 Print Done] and then c Bank. To prepare the bank reconciliation, you gather the following data: * 31, 2018 Requirements 1. Prepare the bank reconciliation for Well Healthcare at August 31, 2018. 2. Journalize any required entries from the bank reconciliation. Include an explanation for each entry. Print Done

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

Accounting A Systems Approach

Authors: Alison Warman, Jeff Davies

1st Edition

1861520379, 978-1861520371

More Books

Students also viewed these Accounting questions