Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how to solve??? The following information is available for the Tierney Company for the month of November On November 30, after all transactions have been

how to solve???
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The following information is available for the Tierney Company for the month of November On November 30, after all transactions have been recorded, the balance in the company's Cash account has a balance of $29,002 The company's bank statement shows a balance on November 30 of $30,179. Outstanding checks at November 30 include check #3030 in the amount of $1795 and check #3556 in the amount of $1,549. Included with the bank statement was a credit memo in the amount of $950 for an EFT in payment of a customer's account. The bank deducted $121 for an NSF check from a customer deposited on November 22. A deposit placed in the bank's night depository on November 30 totaled $1,945 and did not appear on the bank statement Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,630, but was recorded in the accounting records as $2,900. Included with the bank statement was a debit memorandum in the amount of $115 for bank service charges. Required: Prepare the journal entries for the items that would appear on the company's bank reconciliation as of November 30. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet

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_2

Step: 3

blur-text-image_3

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

Fundamentals Of International Financial Accounting And Reporting

Authors: Roger Hussey

1st Edition

9814280232, 9789814280235

More Books

Students also viewed these Accounting questions