Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Information for Blossom Company is as follows: balance per books at October 31, $41,570.60; November receipts, $173,580.00; November disbursements, $166,190.00; balance per bank statement at

image text in transcribedimage text in transcribedimage text in transcribed

Information for Blossom Company is as follows: balance per books at October 31, $41,570.60; November receipts, $173,580.00; November disbursements, $166,190.00; balance per bank statement at November 30, $56,200.00. The following cheques were outstanding at November 30: #1224 $1,715.00 #1230 2.460.00 #1232 3,630.00 #1233 480.00 Included with the November bank statement and not recorded by the company were a bank debit memo for $30.80 covering bank charges for the month, a debit memo for $572.50 for a customer's cheque returned and marked NSF, and a credit memo for $1,480 representing bond interest collected by the bank in the name of Blossom Company. None of the interest collected had been previously recorded. Cash on hand at November 30 that had been recorded and was not yet deposited amounted to $1,922.30. Prepare a bank reconciliation proceeding to the correct balance at November 30 for Blossom Company (List items that increase balance as per bank & books first.) Blossom Company Bank Reconciliation Balance per bank statement, November 30 $ Outstanding cheques Add Cash on hand, not deposited $ $ $ $

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

Basic Food And Beverage Cost Control

Authors: Jack E. Miller, David K. Hayes

1st Edition

0471579181, 978-0471579182

More Books

Students also viewed these Accounting questions