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just a one question i need it quickly pls , i'll like answer The cash account for Coastal Bike Co. a October 1,20Y9, indicased a
just a one question i need it quickly pls , i'll like answer
The cash account for Coastal Bike Co. a October 1,20Y9, indicased a balance of $5,140. During October, the fotal cash deposted was $39,175, and checks weitien totaked $40,520. The bank statement indicated a baiance of $8,980 on October 31,20Y9. Comparing the bank statement, the canceled checks, and the accompanyng menros with the reconds revealed the folowing reconciling kems: a. Checks outstanding totaled $3,260 b. A deposit of $2,450 representing receipts of October 31 had been made too late to appear on the bank stakerrent. c. The bank, had collected for Coastal Bike Ca. 55,300 on a nole leff fot collection. The fare of the note was 55,000 . d. A check for $460 relurned with the statement had been incorrectly charged by the bark as $640 e. Acheck for $430 retumed with the statement had been recoeded by Coastal Bive Co. as $340. The check was for the payment of an obligation 10 Rack Pro Co, on acoount. f. Bank service charges tor October amounted to $50. 9. A check for $605 from Bay View Condos was returned by the bank due to insulficlent funds. Required: 1. Prepare a bank reconciliation as of October 31, 20rg 2. Joumakize the necessary entries. 3. If a balance aheet were prepared for Cosstal Biae Co. an Oetober 31, 20Y9, what amount ahould be reported as cash? 3. If a balance sheet were prepared for Coastal Bike Co. on October 31, 20Y9, what amount should be reported as cash Step by Step Solution
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