Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

LUS Kieso, Intermediate Accounting, lie INTERMEDIATE ACCOUNTING (ACC 201/2 adable eTe That ensh account et Sweet co.showed ece of $4,249.42 on June 30, 2017. The

image text in transcribed
LUS Kieso, Intermediate Accounting, lie INTERMEDIATE ACCOUNTING (ACC 201/2 adable eTe That ensh account et Sweet co.showed ece of $4,249.42 on June 30, 2017. The bank statoment as of thart date showed a balance of H.980.0, the comparing the statement with the cash records, the following facts were determined 1. There were bank service charges for June of $30.00. entry had been made on Sweet's books when Bao Dai's note was sent to the bank for collection.) by Study 3. Receipts for June 30 for $4,06s.00 were not deposited unti July 2. 4. Checks outstanding on June 30 totaled $2,563.26 5. The bank had charged the Sweet Co.'s account for a customer's uncollectible check amounting to $303.84 on June 29. 6. A customer's check for $108.00 (as payment on the customer's accounts Receivable) had been entered as $72.00 in the cash receiots journal by Sweet on June 15. 7. Check no, 742 in the amount of $491.00 had been entered in the cash journal as $419.00, and check no. 747 in the amount of $69.84 had been entered as $698.40. Both checks had been issued to pay for purchase of equipment and were payments on Sweet's Accounts Payable. dated June 30, 2017 to a correct cash balance. (Enter answers to 2 decimal places, e.g 125.62J Prepare a bank Bank is unavailable, may I take a message or can someone else help you? Hold for me please

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

Managerial Accounting

Authors: Linda Smith Bamber, Karen Wilken Braun, Jr. Harrison, Walter T.

1st Edition

0138129711, 978-0138129712

More Books

Students also viewed these Accounting questions

Question

What is a key public for this product/service/concept?

Answered: 1 week ago