Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please Help! Both answesrs are wrong Required information P6-5 (Algo) Preparing a Bank Reconciliation and Related Journal Entries L06-4 [The following information applies to the
Please Help! Both answesrs are wrong
Required information P6-5 (Algo) Preparing a Bank Reconciliation and Related Journal Entries L06-4 [The following information applies to the questions displayed below.) The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time. You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30. Current Year, bank statement and the April ledger account for cash showed the following summarizech: BANK STATEMENT Checks Deposits Balance, April 1, Current year Balance Deposits during April 131,100 $37.300 68,00 Interest collected 69,610 Checks cleared during April $44,500 25, 110 NSF check. Wright 250 24,660 tank service charges 100 24,760 Balance. April 10, Current Year 24,70 1,210 Apr 1 Talance Apr. Deposit 24,00 Cash Apr Checks written 42,00 A comparison of checks witten before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,600 including $2.760 willen before and $1.840 written during April. No deposits in transit were carried over from March, but a deposit was in transit at the end of April Apr. 1 Balance Apr. Deposits 24,800 42,900 Apr. Checks written 42,800 4 A comparison of checks written before and during April with the checks cleared through the checks at the end of April of $4,600 (including $2,760 written before and $1,840 written duri transit were carried over from March, but a deposit was in transit at the end of April. es P6-5 Part 3 3. What was the balance in the cash account in the ledger on May 1, Current Year? Cash balance 6,818 Required information of 4 Apr. 1 Balance Apr. Deposits Cash (A) Apr. Checks written 24,800 42,900 42,860 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,600 (including $2.760 written before and $1.840 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April 03:06:10 P6-5 Part 4 4. What total amount of cash should be reported on the balance sheet at the end of April? Answer is complete but not entirely correct. Total amount of cash s 6,818 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