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Ifrs system Dillman Food Store developed the following information in recording its bank statement for the month of March. Balance per books March 31 $
Ifrs system Dillman Food Store developed the following information in recording its bank statement for the month of March. Balance per books March 31 $ 8,220 Balance per bank statement March 31 $9,000 A comparison of the statement with the cash account revealed the following facts. (1) Checks written in March but still outstanding $8,800. (2) NSF check of customer returned by bank $1,200. (3) Check No. 210 for $594 was correctly Issued and paid by bank but incorrectly entered in the cash payments Journal as payment on account for $549. (4) Bank service charge for March was $30. (5) Deposits in transit of March 30 and 31 not yet recorded by bank 512,415. (6) A check received from customer as a payment of accounts receivables for $824 which cleared the bank in March with a correct amount was incorrectly Journalized S284 (7)The bank collected a note receivable for the company for $5,000 plus $150 interest revenue and bank charges and fees $20. Instructions: 1. Prepare bank reconciliation at March 31. 2. Prepare the necessary adjusting entries at March 31
Ifrs system
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