Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

make a journal entry for the following information For each source information shown below, prepare the appropriate journal entry. (If no entry is required for

make a journal entry for the following information

For each source information shown below, prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

a. Purchase order dated October 13 for massage chairs costing $830 and oil supplies costing $305.
b. Remittance advice from customer for $106, received October 17.
c. Receiving report indicating October 22 receipt of October 13 order. Also received supplier invoice totaling $1,135

d. NGS check for payment in full of October 13 order.

make a bank reconiliation for the following information

Nicole has asked you to prepare a bank reconciliation for NGS. According to her records, NGSs cash balance is $7,300 at December 31, but the bank reports a balance of $6,800.

a. The bank deducted $400 for an NSF check from a customer deposited on December 22.
b. NGS has written checks totaling $4,800 that have not yet cleared the bank.
c. The bank added $75 cash to the account for interest earned in December.
d. NGS made a $4,810 deposit on December 31, which will be recorded by the bank in January.
e. The bank deducted $75 for service charges.
f. NGS wrote a check to a supplier on account for $100 but mistakenly recorded it as $10.

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

Health Auditing As A Tool For Quality Care Case Studies

Authors: Camila Freire

1st Edition

6206344169, 978-6206344162

More Books

Students also viewed these Accounting questions

Question

=+multiplicity 1). If A + 1, then |A| Answered: 1 week ago

Answered: 1 week ago

Question

Explain the various techniques of Management Development.

Answered: 1 week ago

Question

Define procedural justice. How does that relate to unions?

Answered: 1 week ago