Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help fix what I missed on these two problems 8.5) 8.9) The following data were accumulated for use in reconciling the bank account of

Please help fix what I missed on these two problems
8.5) image text in transcribed
image text in transcribed
image text in transcribed
8.9)
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The following data were accumulated for use in reconciling the bank account of Zek's Co. for May 2016: 1. Cash balance according to the company's records at May 31, 2016, $22,110. 2. Cash balance according to the bank statement at May 31, 2016, $29,650. 3. Checks outstanding, $13,875 4. Deposit in transit, not recorded by bank, $6,770. 5. A check for $50 in payment of an account was erroneously recorded in the check register as $500. 6. Bank debit memo for service charges, $15. a bank reconciliation, using the format shown in Exhibit 13, Refer to the Amount Descriptions list provided for the required A. Prepare a bank reconciliation, using the format shown in Ex exact wording of the answer choices for text entries. The word Deduct:"or Add: "will automatically appear if it is B. If the balance sheet were prepared for Zek's Co. on May 31, 2016, what amount should be reported for cash? C. Must a bank reconciliation always balance (reconcile)

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

New Markets Tax Credit IRS Audit Technique Guide

Authors: Internal Revenue Service

1st Edition

1304112896, 978-1304112897

More Books

Students also viewed these Accounting questions