Question
Need help with answer these question Problem A: Lopez Hair Designs has a company (book) balance of $31,600 and a bank balance of $25,100. The
Need help with answer these question
Problem A: Lopez Hair Designs has a company (book) balance of $31,600 and a bank balance of $25,100. The following additional information is available:
Deposits in Transit: $15,000
Outstanding checks: 4,600
Notes Receivable collected by the bank 5,500
Not sufficient funds (NSF) 1,500
Bank fees 100
Prepare a reconciliation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted balance per bank | Adjusted balance per books |
Problem B: Jones Corporation has a book balance of $89,848 and a bank balance of 92,800. The following additional information is available:
Deposits in transit $20,000
Outstanding checks $12,000
Notes Receivable collected by the bank $10,800
Bank fees $100
Jones Corporation incorrectly recorded on their books a check for $680 that should have been recorded at $428.
Prepare a reconciliation.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted balance per bank | Adjusted balance per books |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started