Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please show work and how you got all numbers that are used Bentley Company's June 30 bank statement and June ledger account for cash are

please show work and how you got all numbers that are used
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $15,600 $17,000 30 Balance $ 7.750 23,350 6.350 6,320 6,320 June 1 Balance June Deposits Cash) 7.750 June Checks written 18,950 19.550 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,550. A deposit of $3,350 is in transit at the end of June. 2. Prepare the Journal entry that should be made as a result of the bank reconciliation 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 307 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,550. A deposit of $3,350 is in transit at the end of June. BENTLEY COMPANY Bank Reconciliation, June 30 Company's Books Bank Statement Additions: Additions: Deductions: Deductions: Correct cash balance Correct cash balance Required 2 > Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1 $ 7,750 Deposits during June $15,600 23,350 Checks cleared during June $17,000 6,350 Bank service charges 30 6,320 Balance, June 30 6,320 June 1 Balance June Deposits Cash M 7,750 June Checks written 18,950 19,550 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,550. A deposit of $3,350 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 30? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Record any journal entries that should be made as a result of the bank reconciliation (If no entry is required for a transaction/event, select "No journal entry required in the first account field) View transaction list Journal entry worksheet 3 1 2 Record the entry for deposits during June. Notected before credits Date General Journal Debit Credit June 30 Record entry Clearby View general Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Check Deposits $15,600 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $17,000 30 Balance $ 7.750 23, 350 6,350 6,320 6,320 June 1 Balance June Deposits Cah ) 7,750 June Checks written 18,950 19,550 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,550. A deposit of $3,350 is in transit at the end of June. 2. Prepare the Joumal entry that should be made as a result of the bank reconciliation 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 302 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Record any journal entries that should be made as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 1 Record the entry for checks cleared during June. Notte dei before credits Date General Journal Dobit Credit ne 30 Record entry Ceremy View Bentley Company's June 30 bank statement and June ledger account for cash are summarized below. RANK STATEMENT Check Deposito 315,600 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 517,000 30 Balance $ 7.750 23,350 6,350 6,320 6,320 June 1 Balance June Deposit Canh 7,750 June Checks written 18,950 19,550 Required: 1. Reconcile the bank account A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,550. A deposit of $3,350 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation. 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 307 Complete this question by entering your answers in the tabs below. Required 1 RequiredRequired 3 Required 4 Record any journal entries that should be made as a result of the bank reconciliation. (If no entry is required for a transactionevent, select "No journal entry required in the first account field) View transaction that Journal entry worksheet Bentley Company's June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits $15,600 Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $17.000 30 Balance $ 7,750 23,350 6,350 6,320 6.320 June 1 Balance June Deposits Cash (A) 7.750 June Checks written 18,950 19,550 Required: 1. Reconcile the bank account. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,550. A deposit of $3,350 is in transit at the end of June. 2. Prepare the journal entry that should be made as a result of the bank reconciliation 3. What is the balance in the Cash account after the reconciliation entries? 4. What is the total amount of cash that should be reported on the balance sheet at June 30? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What is the total amount of cash that should be reported on the balance sheet at June 302 Total amount of canh

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

Financial accounting

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

IFRS Edition

9781119153726, 978-1118285909

More Books

Students also viewed these Accounting questions

Question

How can we measure health?

Answered: 1 week ago