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Owv2 Online x keAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator-assignment-take&inprogress-false Print Item eBook Show Me How Calculator Bank Reconciliation and Entrles The cash account for Brentwood Bike Co. at May
Owv2 Online x keAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator-assignment-take&inprogress-false Print Item eBook Show Me How Calculator Bank Reconciliation and Entrles The cash account for Brentwood Bike Co. at May 1 Indicated a balance of $13,790. During May, the total cash deposited was $69,090 and checks written totaled $64,150. The bank statement indicated a balance of $23,420 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $10,430. b. A deposit of $8,500, representing recelpts of May 31, had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $4,490 on a note left for collection. The face of the note was $4,150. d. A check for $490 returned with the statement had been incorrectly charged by the bank as $940. e. A check for $970 returned with the statement had been recorded by Brentwood Bike Co. as $790. The check was for the payment of an obligation to Adkins Co. on account. f. Bank service charges for May amounted to $60. g. A check for $1,040 from Jennings Co. was returned by the bank because of insufficlent funds. Instructions: 1. Prepare a bank reconciliation as of May 31. Brentwood Bike Co. Bank Reconcillation May 31 Cash balance according to bank statement Adjusted balance Check My Work Previous 2 more Check My Work uses remaining Submit Assignment for Grading Email Instructor Save and Exit akeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator=assignment-take &inprogress-false eBook Show Me How Calculator Print Item Bank Reconcillation May 31 Cash balance according to bank statement Add bank error in charging check as $940 instead of $490 Add bank service charges Add check returned because of insufficient funds Add note and interest collected by bank Deduct error in recording check Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. y 31 Previous Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Save and Exit Email Instructor sigektMain.do?invoker-assignments&takeAssignmentSession Locator=assignment-take&inprogress=false eBook Show Me How Calculator Print Item Bank Reconciliation May 31 Cash balance according to bank statement Deduct bank service charges Deduct check returned because of insufficient funds Deduct deposit of May 31, not recorded by bank S Deduct outstanding checks Deduct note and interest collected by bank Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. May 31 Previous Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Save and Exit Email Instructor un 13:44 NOWV2| Online x C Determine The Gross Pro Q chapter 7 Inventories Fla x x /takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator=assignment-take&inprogress-false eBook Show Me How Calculator Print Item Bank Reconcillation May 31 Cash balance according to bank statement Adjusted balance Cash balance according to company's records Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. May 31 Previous Check My Work 2 more Check My Work uses remaining Submit Assignment for Grading Emall Instructor Save and Exit Book Show Me How Calculator Print Item Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, If an amount box does not require an entry, leave it blank. a. May 31 b. May 31 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash? Previous Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Save and Exit Email Instructor HInent-cake&inprogress false eBook Show Me How Calculator Print Item Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. May 31 Accounts Payable-Adkins Co. Accounts Recelivable-Jennings Co. Cash b. Ma Miscellaneous Expense Notes Receivable 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash? Previous Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Email Instructor Save and Exit Owv2 Online x keAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator-assignment-take&inprogress-false Print Item eBook Show Me How Calculator Bank Reconciliation and Entrles The cash account for Brentwood Bike Co. at May 1 Indicated a balance of $13,790. During May, the total cash deposited was $69,090 and checks written totaled $64,150. The bank statement indicated a balance of $23,420 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $10,430. b. A deposit of $8,500, representing recelpts of May 31, had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $4,490 on a note left for collection. The face of the note was $4,150. d. A check for $490 returned with the statement had been incorrectly charged by the bank as $940. e. A check for $970 returned with the statement had been recorded by Brentwood Bike Co. as $790. The check was for the payment of an obligation to Adkins Co. on account. f. Bank service charges for May amounted to $60. g. A check for $1,040 from Jennings Co. was returned by the bank because of insufficlent funds. Instructions: 1. Prepare a bank reconciliation as of May 31. Brentwood Bike Co. Bank Reconcillation May 31 Cash balance according to bank statement Adjusted balance Check My Work Previous 2 more Check My Work uses remaining Submit Assignment for Grading Email Instructor Save and Exit akeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator=assignment-take &inprogress-false eBook Show Me How Calculator Print Item Bank Reconcillation May 31 Cash balance according to bank statement Add bank error in charging check as $940 instead of $490 Add bank service charges Add check returned because of insufficient funds Add note and interest collected by bank Deduct error in recording check Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. y 31 Previous Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Save and Exit Email Instructor sigektMain.do?invoker-assignments&takeAssignmentSession Locator=assignment-take&inprogress=false eBook Show Me How Calculator Print Item Bank Reconciliation May 31 Cash balance according to bank statement Deduct bank service charges Deduct check returned because of insufficient funds Deduct deposit of May 31, not recorded by bank S Deduct outstanding checks Deduct note and interest collected by bank Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. May 31 Previous Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Save and Exit Email Instructor un 13:44 NOWV2| Online x C Determine The Gross Pro Q chapter 7 Inventories Fla x x /takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator=assignment-take&inprogress-false eBook Show Me How Calculator Print Item Bank Reconcillation May 31 Cash balance according to bank statement Adjusted balance Cash balance according to company's records Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. May 31 Previous Check My Work 2 more Check My Work uses remaining Submit Assignment for Grading Emall Instructor Save and Exit Book Show Me How Calculator Print Item Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, If an amount box does not require an entry, leave it blank. a. May 31 b. May 31 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash? Previous Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Save and Exit Email Instructor HInent-cake&inprogress false eBook Show Me How Calculator Print Item Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. May 31 Accounts Payable-Adkins Co. Accounts Recelivable-Jennings Co. Cash b. Ma Miscellaneous Expense Notes Receivable 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash? Previous Check My Work 2 more Check My Work uses remaining. Submit Assignment for Grading Email Instructor Save and Exit
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