Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Karen Sells is unable to reconcile the bank balance at January 31. Karen's reconciliation is shown here. $3,702.20 585.00 Cash balance per bank Add: NSF

image text in transcribed
image text in transcribed
Karen Sells is unable to reconcile the bank balance at January 31. Karen's reconciliation is shown here. $3,702.20 585.00 Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank 40.00 $4,247.20 $4,000.20 578.00 Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books 905.00 $4,327.20 (a) What is the proper adjusted cash balance per bank? (Round answers to 2 decimal places, eg. 52.75.) The proper adjusted cash balance per bank $ (b) What is the proper adjusted cash balance per books? (Round answers to 2 decimal places, eg. 52.75.) The proper adjusted cash balance per books $ le Pranare (e) Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books. (Round answers to 2 decimal places, eg. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 (To record NSF check) Jan. 31 To record bank service charge) e Textbook and Media 40 List of Accounts Qu

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

Agile Auditing Fundamentals And Applications

Authors: Raven Catlin, Danny M Goldberg, Ceciliana Watkins

1st Edition

ISBN: 1119693462, 9781119693468

More Books

Students also viewed these Accounting questions

Question

Identify examples of loaded language and ambiguous language.

Answered: 1 week ago