Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mohammad Abdullah company's Cash account has a balance of S851 as of October 31. The bank statement for this account reports a balance of $1,430

image text in transcribed

Mohammad Abdullah company's Cash account has a balance of S851 as of October 31. The bank statement for this account reports a balance of $1,430 as of October 31. 1. There are outstanding checks totaling S840 and a deposit in transit of $60. 2. Depreciation expense of machine for the month $200 remained unrecorded. 3. A payment was received $450 from one of the customer was recorded by the company accountant and deposited correctly in the bank account, however the subsidiary ledger account shows that the amount received should have been $550. 4. The bank statement shows interest earned of $19, service charges of $30, a customer's returned check of $100, and a check printing fee of $90. The salaries expense $5,000 for current month was not paid. Instruction: Prepare a bank reconciliation for Mohammad Abdullah Company as of October 31. [6 Marks Your

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

Fundamental Accounting Principles

Authors: John Wild, Ken Shaw, Barbara Chiappett

23rd edition

1259536351, 978-1259536359

More Books

Students also viewed these Accounting questions